Louis is saving money for a car, he invests $1,200 in an account that pays an interest rate of 7.5%. How many years will it take for the account to reach $14,000? Use formula
A= p (1 +r) ^t

33.970041 years

Step-by-step explanation:

A = p(1+r)^t

14,000 = 1,200 (1+0.075)^t

14,000/1,200 = (1.075)^t

log(14,000/1,200) = t log (1.075)

t = log(14,000/1,200) / log(1.075)

 = 33.970041 years

the entire expression should be subtracted from 30. to subtract the quantity, distribute the negative sign, which changes the signs on the terms. so, the –2 changes to positive and gets added to 30 instead of subtracted from it.

hope this ! ^w^

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