A savings account is started with an initial deposit of $700. The account earns 1.5% interest compounded annually. Write an equation to represent the amount of money in the account as a function of time in years. Then find the amount of time it takes for the account balance to reach $1,200. Show your work.

It will take 36.2 years.

Step-by-step explanation:

The principal amount is $700. This principal amount earns 1.5% interest that is compounded annually.

Therefore, from the formula of compound interest, we can write

, where S is the maturity sum and P is the principal invested and r% is the interest which is compounded annually and t is the number of years.

So, in our case, the equation will be

............ (1) (Answer)

Now, if the maturity sum, S = $1200, then,

⇒

Now, taking log both sides,

t(log 1.015) = log 1.714

⇒ t = 36.2 years.

x =±sqrt(1/3)

step-by-step explanation:

x+4/6x=1/x

multiply each side by 6x to get rid of the fractions

6x*(x+4/6x)=1/x*6x

distribute

6x^2 +4 = 6

subtract 4 from each side

6x^2 +4-4 = 6-4

6x^2 =2

divide by 6

6x^2/6 = 2/6

x^2 = 1/3

take the square root of each side

sqrt(x^2) = ±sqrt(1/3)

x =±sqrt(1/3)

false

step-by-step explanation: