Question

PLEASE HELP!
george wants to save money for a car. george invests $700 in an account that pays an interest rate of 7.25%
How many years will it take for the account to reach 14,300???
round to the nearest hundreth

Answer 1

I = PRT

14,300 = (700)(0.0725)(t)
14,300 = 50.75(t)
14300/50.75 = t
281.77 = t    or    t = 281.77

hope this helps :)