Algebraically manipulating the formula FV = P + Prt, find the time period in years (to the nearest whole year) it would take to quadruple (4 times) the initial deposit of $1,000 at a simple interest rate of 5.5%.
55 years
61 years
48 years
37 years
None of these choices are correct.
Answers
Answered by
0
Answer:
Step-by-step explanation:
Since P = $1000 and I = $3025 we have
AAA=P+I=1000+3025=4025
Similar questions