Algebra

posted by .

If 10,000 is invested at 4.8% simple interest, how long will it take for the account balance to grow to 11,200.

• Algebra -

Solve the equation:
11200=10000(1+0.048*(how long))

• Algebra -

2 years and 6 months

Similar Questions

1. algebra

Solve the problem. Helen Weller invested \$15,000 in an account that pays 12% simple interest. How much additional money must be invested in an account that pays 15% simple interest so that the total interest is equal to the interest …
2. math

how much money would have to be invested in an account at 3.98% annual interset to achieve a balance of 25,000 in 17 years if a. The account pays simple interest b. the account compound interest qrtly c. the account compounds interest …
3. College Algebra

20. Growth of an Account If Russ (see Exercise 19) chooses the plan with continuous compounding, how long will it take for his \$60,000 to grow to \$80,000?
4. Algebra

Helen invested \$14,000 in an account that pays 3% simple interest. How much additional money must be invested in an account that pays 6% simple interest so that the average return on the two investments amounts to 4% ?
5. Algebra ASAP

Suppose that \$17,000 is invested in a savings account paying 5.1% interest per year. (a) Write the formula for the amount A in the account after t years if interest is compounded monthly. A(t) = (b) Find the amount in the account after …
6. Math

you deposit \$200 in an account earning 3.5% simple interest. How long will it take for the balance of the account to be \$221?
7. math

you deposit \$200 in an account earning 3.5% simple interest. How long will it take for the balance of the account to be \$221?
8. simple interest

A total of \$12,000 is invested into two simple interest accounts. On one account the annual simple interest rate is 12%, while on the second account the annual interest rate is 18%. How much should be invested at 12% so that the interest …
9. math

you deposit \$200 in an account earning 3.5% simple interest. How long will it take for the balance of the account to \$221?
10. math

If \$10,000 is invested in an account at 4.8% annual simple interest, how long will it take for the account balance to grow to \$11,200?

More Similar Questions