Question
Your final balance of an investment of $270 invested at 10% was $459. For what period of time did you invest?
Answers
Henry
P = Po + Po*r*t.
459 = 270 + 270*0.1*t
t = ?. = Time in years.
459 = 270 + 270*0.1*t
t = ?. = Time in years.
Lehar
Thanks but why did you add 260 twice
Henry
In factored form:
P = Po + Po*r*t = Po(1+rt).
P = Po + Po*r*t = Po(1+rt).