you deposit $10,000 into a bank account at 2% annual interest. how long will it take for the $10,000 to compound to $30,000?
n= i/y= pv= pmt= fv= p/y=

time = 55.48 years

Explanation:

Given:

Principal amount = $10000

Interest rate = 2% p.a

Amount = $30000

We can evaluate the time taken using the following formula:

Solving the above equation, we get

Now taking log on both sides, we get;

time = 55.48 years

x is the total time in minutes for the free response

you are given number of questions as 15 - m and time per item as 8 minutes

to find x multiply the two givens together:

x = 8 * (15-m) = 8(15-m)