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Popolare Word Problems >

if i invest 7000 at 7.2% per year compounded daily. how many years will it take for my investment to reach 8000

Soluzione

i f i in v es t 7000 a t 7.2% p er ye a r co m p o u n d e d d ai l y . h o w man y ye a rs w i ll i t t ak e f or m y in v es t m e n t t o re a c h 8000

Soluzione

Time : 1.85

Fasi della soluzione

Translate the problem into an equation:

8000 = 7000 (1 + \frac{0.072}{365})^{365 t}

Risolvi per

t, 8000 = 7000 (1 + \frac{0.072}{365})^{365 t} : t = 1.85

Time : 1.85

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