Question: Using either logarithms or a graphing calculator, find the time required for the initial amount to be at least equal to the final amount. $7700,

Using either logarithms or a graphing calculator, find the time required for the initial amount to be at least equal to the final amount. $7700, deposited at 4.3% compounded monthly, to reach at least $9100

The time required is X year(s) and X months.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!