Ella invested $4,900 in an account paying an interest rate of 3% compounded monthly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach $5,920?

It would take 6 years for the value of the account to reach $5,920

Step-by-step explanation:

Principal Amount = $4900

Interest rate r = 3% = 0.03

Compounded monthly = n=12

Time t =?

Future Value = $5920

We can find time using formula:

Putting values and solving:

Applying exponent rule;

So, It would take 6 years for the value of the account to reach $5,920

y > 1/3x

y < = -x + 4

hope this : )

yes

step-by-step explanation:

so of course you want to start by plugging the 5 in which goes to 7(5)+3(5)=50 because 7*5=35 and 3*5=15 and then add them together, then plug in the 5 to the other equation as well 9(5)+5=50 because 9*5= 45 and then add 5 and so yes they are equivalent.