Ask a New Question

Asked by un

Account A and B each start out with $500. If Account A earns $50 each year and Account B earns 5% of its value each year, after how many years will Account B have more money than Account A? If necessary, round your answer to the nearest year.
8 years ago

Answers

Answered by Nonetheless
Let x be the number of years after which A and B have the same amount of money.

500 + 50x = 500(1.05)^x

Work out x with a table of values or a graphing calculator to get x=0 (doesn't count) or x ~ 27 years.

8 years ago

Related Questions

You start an investment account with $3000 and save $100 each month. Write a rule to represent the... If I put $300 in an account that earns 5.5%, how much will there be in the account at the end of 21... If I have $87,000 in an account with 4.5% interest, how much money will I have in 8 years? What is start root start fraction 81 over 100 end fraction end root? Divide. start fraction start fraction x squared plus 2 x plus 1 over x minus 2 end fraction over sta... . start fraction, minus, start fraction, 9, divided by, 2, end fraction, divided by, start fraction... Rob has $7,869 in an account that earns 13% interest compounded annually. To the nearest cent, how... Account managers, account planners, and media buyers are all positions in what field of marketing?... Which account allows you to write checks or use your debit card to pay for items? Savings account... Which account would you rather have? Why? Answer
Ask a New Question
Archives Contact Us Privacy Policy Terms of Use