cereal2 cereal2
  • 20-01-2018
  • Mathematics
contestada

Chris invested $12,000 at a rate of 4%. How long should he leave his money invested if he wants to earn interest of at least $1,000?

Respuesta :

bobbyv2 bobbyv2
  • 20-01-2018
12,000 x 1.04^2 = 12,980. This is the total money he has after 2 years, however the difference is not quite 1,000

12,000 x 1.04^3 = 13,500. The difference after 3years is over a 1000
So the answer is 3 years
Answer Link

Otras preguntas

why is it important to understand the concept of density ?
what would result if chromosomes did not replicate during interphase?
which of the following sentences demonstrates correct pronoun-antecedent agreement? a.ms.tanaka told james and me that our project was the best in the class. b
40% percent of what number is 34
Which answers are examples of inductive reasoning? Choose all answers that are correct. (Points : 1) Peaches cost $0.95/lb at the local store. Sue is g
On what basis do scientist classify minerals?
2(X-4)+7=3 ? Which value of x is the solution
what are the purposes of the laws congress passes?
what are three physical properties of a aluminum can
what does Miss. Maudie mean when she says that Atticus "is the same in his house as he is on the public streets"? what does this show about how others in the to