Answered

Explore Westonci.ca, the leading Q&A site where experts provide accurate and helpful answers to all your questions. Experience the convenience of getting accurate answers to your questions from a dedicated community of professionals. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

50 BRAINLY POINTS 3. A savings account is started with an initial deposit of $2400. The account earns 6% interest compounded annually.
(a) Write an equation to represent the amount of money in the account as a function of time in years.
(b) Find the amount of time it takes for the account balance to reach 1 million. Show your work.
Note: 1 million is a 1 with 6 zeros. Note2: you must use log functions to solve.

Sagot :

Taylyn41

Answer

144

Step-by-step explanation:

You would want to multiply so 2400 times by 6% and 6% is equal to 0.06 so just multiply those to get the answer of 144.

SORRY IF I'M WRONG>3

We hope this was helpful. Please come back whenever you need more information or answers to your queries. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.