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Pre-Ib Intermediate Algerbra

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How long must $5200(USD) be left in the bank to have $5439.25? 9% interest compounding monthly.

This is Compound Interest: A=P(1+r/n)^nt

Please and thank you!
 Apr 10, 2012

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 #1
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How long must $5200(USD) be left in the bank to have $5439.25? 9% interest compounding monthly.

This is Compound Interest: A=P(1+r/n)^nt

$5439.25=5200(1+.09/12)^12x

about 6 months?

FITZ
 Apr 10, 2012

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