Rachel deposited $6,449.82 into a savings account with an interest of 6.9% compounded annually. about how long will it take for the accout to be worth $8,000?

3 years and 3 months.

Step-by-step explanation:

Since, the amount formula in compound interest,

Where,

P = principal amount,

r = rate per period,

t = number of periods,

Here, A = $ 8,000, r = 6.9%, P = $6,449.82,

By substituting the values,

Hence, it would be take 3.228 years or 3 years and 3 months.

the entire expression should be subtracted from 30. to subtract the quantity, distribute the negative sign, which changes the signs on the terms. so, the –2 changes to positive and gets added to 30 instead of subtracted from it.

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