Chapter 7, Section 7.3, Question 022 You deposit $10,000 into a bank account. Use 4% as the annual interest rate to find the number of years before the account holds the following amounts. (a) $15,000 Round your answer to one decimal place. Your account will have $15,000 in years. (b) $20,000 Round your answer to one decimal place. Your account will have $20,000 years.

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section8.3: Geometric Sequences And Series
Problem 8ECP: An investor deposits $70 on the first day of each month in an account that pays 2 interest,...
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Chapter 7, Section 7.3, Question 022
You deposit $10,000 into a bank account. Use 4% as the annual interest rate to find the number of years before the account holds the following amounts.
(a) $15,000
Round your answer to one decimal place.
Your account will have $15,000 in
years.
(b) $20,000
Round your answer to one decimal place.
Your account will have $20,000
years.
Transcribed Image Text:Chapter 7, Section 7.3, Question 022 You deposit $10,000 into a bank account. Use 4% as the annual interest rate to find the number of years before the account holds the following amounts. (a) $15,000 Round your answer to one decimal place. Your account will have $15,000 in years. (b) $20,000 Round your answer to one decimal place. Your account will have $20,000 years.
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