Danay7773 Danay7773

04-10-2017
Business

contestada

Your car needs a new engine and it cost $1,000. you currently have $600 to invest at 7% compound annually, how long will you have to wait to buy the engine?

Respuesta :

meerkat18 meerkat18

17-10-2017

Amount = Principal ( 1 + interest rate) ^ years

$1000 = $600 ( 1 + .07 ) ^ years

$1000 / $600 = 1.07 ^ years

1.66667 = 1.07 ^ years

years = 8

Answer Link

Otras preguntas

______________ is an example of a universal theme. a. Love d. a & c b. Bravery e. all of the above c. Justice

1/20 as a decimal or mixed number

why did cattle drives come to an end

Why did the Roman Empire feel threatened by Christianity? My mind is blanking.

what two large alliances took shape before the beginning of world war 1, and who was in each alliance

Create a scale to graph the numbers -12 through 12 on a number line. What does each tick mark represent?

Write an expression that has three terms, two different variables, and one constant

How did a warming climate 12,000 to 10,000 years ago impact the paleo Indians living in the Americas at the time?

students want to sell 400 tickets to the school telent show. they have sold 214 tickets. how many more tickets do they need to sell to reach their goal show yo

33pt =__ qt __qt pliz. hurry

Q&A Education