An initial investment of $1000 is deposited in an account with a 1.2%
interest rate, compounded annually. In how many years will the
account reach $1500?

34 years will the account reach $1500, if An initial investment of $1000 is deposited in an account with a 1.2%  interest rate, compounded annually.

Step-by-step explanation:

The given is,

                     Initial investment of $1000

                     Interest rate 1.2%, compounded annually

                     Future amount $1500

Step:1

           Formula to calculate the future amount with an interest rate of compounded annually,

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

           Where,

                F - Future worth amount

                P - Initial investment

                 r - Rate of interest

                n - No.of compounding in a year

                 t - No.of years

          From given,

                   F = $1500

                  P = $1000

                   r = 1.2%

                  n = 1 (compounded annually)

          Equation (1) becomes,

         Take log on both sides,

         Substitutes log values,

                        0.17609126 =( t ) 0.0051805  

                                           t = 33.99

                                          t ≅ 34 years

Result:

        34 years will the account reach $1500, if An initial investment of $1000 is deposited in an account with a 1.2%  interest rate, compounded annually.

y=mx+b is the final answer!   : )

let's solve your equation step-by-step.

24−3x=−27

step 1: simplify both sides of the equation.

24−3x=−27

24+−3x=−27

−3x+24=−27

step 2: subtract 24 from both sides.

−3x+24−24=−27−24

−3x=−51

step 3: divide both sides by -3.

−3x

−3

=

−51

−3

x=17

answer:

x=17

step-by-step explanation:

mark brainliest and have a great day!