Question 1200766
.

The formulation of the problem in the post is ABSURDIST/unprofessional 
and only may to confuse a reader.


In Finance, a loan is a mechanism which assumes regular back payments.


If there are no back payments, the problem at least MUST SAY about it EXPLICITLY.



Normally, such problems are worded in different form. They ask about the growing deposit, not about the loan.


The normal/regular formulation should be like this:


<pre>
    A deposit of $45,000 is made at 5.5% interest, compounded annually. 
    After how many years will the amount reach $70,000 or more? 
</pre>


Then it makes sense; otherwise it is only good to frighten a reader.



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To see million of solved problems of this type, &nbsp;look into the lessons

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Compound-interest-percentage-problem.lesson>Compounded interest percentage problems</A> 

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/logarithm/Problems-on-discretely-compound-accounts.lesson>Problems on discretely compound accounts</A> 

in this site, &nbsp;and learn the subject from there.