A loan of $26,000 is made at 8.75% interest, compounded annually. After how many years will the amount due reach $44,000 or more? (Use the calculator provided if necessary.) Write the smallest possible whole number answer. years 圖
A loan of $26,000 is made at 8.75% interest, compounded annually. After how many years will the amount due reach $44,000 or more? (Use the calculator provided if necessary.) Write the smallest possible whole number answer. years 圖
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 14E
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![A loan of $26,000 is made at 8.75% interest, compounded annually. After how many years will the amount due reach $44,000 or more? (Use the
calculator provided if necessary.)
Write the smallest possible whole number answer.
years](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2219645f-3d9e-43a6-a194-ac8d97d14dce%2Fb43ea07c-b0b7-4dc5-99b0-86742d6f2608%2Fhcraz0f_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A loan of $26,000 is made at 8.75% interest, compounded annually. After how many years will the amount due reach $44,000 or more? (Use the
calculator provided if necessary.)
Write the smallest possible whole number answer.
years
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