They've invested to earn $20 in a savings account that offer 3% return on the investment the value of david's investment will be at least $400 after a period of

Question

Mathematics

Guest

13 September, 11:25

They've invested to earn $20 in a savings account that offer 3% return on the investment the value of david's investment will be at least $400 after a period of

+4

Answers (1)

Know the Answer?

Arturo Galvan · Answer 1

I=PRT

P=present amount

R=rate

T=time

basically

20+interest is more than or equal to 400

20+I>400

minus 20 both sides

I>380

solve

P=20

R=3%=0.03

T=?

I=PRT

380
380<20 (0.03) (T)

380<0.6T

divide both sides by 0.6

633.33333
633.33 years at least