Q6. SR2, 800 is needed for a purchase. The buyer has SR2, 500 and will invest the money at 9% annual interest, compounded monthly. In how many months will the SR2, 500 become SR2, 800? A: 15, B: 19, C: 20, D: None. A=P [1+(r/m)] mt

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 36PFA
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Q6. SR2, 800 is needed for a purchase. The buyer has SR2, 500 and will invest the money at 9%
annual interest, compounded monthly. In how many months will the SR2, 500 become
SR2, 800? A: 15, B: 19, C: 20, D: None.
A=P [1+ (r/m)] m
mt
Transcribed Image Text:Q6. SR2, 800 is needed for a purchase. The buyer has SR2, 500 and will invest the money at 9% annual interest, compounded monthly. In how many months will the SR2, 500 become SR2, 800? A: 15, B: 19, C: 20, D: None. A=P [1+ (r/m)] m mt
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