Posted by amanda on Friday, September 17, 2010 at 9:53pm.
what do i have to do to solve this?
Khety must save $5050 for a down payment on a car. He currently has $1925 in an account yielding 6.5% simple interest. If he saves no additional money, how long until he has enough for the down payment?

math  PsyDAG, Saturday, September 18, 2010 at 11:00am
Future value = Present value (1 + interest rate)^n, where n = number of years.
5050 = 1925(1.065)^n
Rearranged n= (log 5050  log 1925)/log (1.065)

math  sherry, Tuesday, November 30, 2010 at 9:43am
a couple invests $4500 in an account paying 7% compounded quarterly. how much is in the account after one year?

math  Anonymous, Friday, February 18, 2011 at 12:58am
a sequence of yearly payments of $6000 is invested at an interest rate of 4.5%, compounded annually. what is the total amount of the annuity after 12 years?
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