for y being the time in years
595 = 500 (1 + .06)^y
log(595 / 500) = y log(1.06)
Suzy deposits $500 in a savings account with an interest rate of 6% compounded annually. if suzy does not make any additional deposits or withdrawals, how long will it take for suzy to earn at least $95
2 answers
$531.8
2 answers