​(Related **to Checkpoint**​ 5.5)**** ​ (Solving **for** 

***n***​)

  How many years will it take for**** 

​$480480 

to grow to 

​$1 comma 059.711,059.71 

if​ it's invested at 

88 

percent compounded​ annually?

Question content area bottom

Part 1

The number of years it**** will take**** for**** 

​$480480 

to grow to 

​$1 comma 059.711,059.71 

at 

88 

percent compounded annually is 

enter your response here 

years. ​ (Round to one decimal​ place.)

To solve for $n$ (the number of years) in this compound interest problem, we can use the compound interest formula:

\[
A = P(1 + \frac{r}{n})^{nt}
\]



How many years will it take for $480,480 to grow to $1,059,711.71 if it's invested at 88 percent compounded annually? (Round to one decimal place.)

Learn how to calculate the number of years required for an investment of $480,480 to grow to $1,059,711.71 with 88% annual compound interest. This problem involves key concepts in exponential growth and the compound interest formula. Suitable for high school students in Grades 10-12.

Math Problem Statement

Solution

Ask a new question for Free

By Image

Math Problem Analysis

Mathematical Concepts

Formulas

Theorems

Suitable Grade Level

Related Recommendation