A=426,000 P=326,000 r=3% t=?

SOLUTION:Step 1: List the given values.[tex]\begin{aligned} & A = \text{₱426,000} \\ & P = \text{₱326,000} \\ & r = 3\% = 0.03 \end{aligned}[/tex]Step 2: Calculate the time.[tex]\begin{aligned} A & = P(1 + rt) \\ 426,000 & = 326,000[1 + 0.03t] \\ 326,000[1 + 0.03t] & = 426,000 \\ \frac{326,000[1 + 0.03t]}{326,000} & = \frac{426,000}{326,000} \\ 1 + 0.03t & = 1.306748 \\ 0.03t & = 1.306748 - 1 \\ 0.03t & = 0.306748 \\ \frac{0.03t}{0.03} & = \frac{0.306748}{0.03} \\ t & = \boxed{\text{10.22 years}} \end{aligned}[/tex]

Answered by GreatRedSpot | 2024-09-09