An initial investment of $1000 is deposited in an account with a 1.2%
interest rate, compounded annually. In how many years will the
account reach $1500?

34 years will the account reach $1500, if An initial investment of $1000 is deposited in an account with a 1.2%  interest rate, compounded annually.

Step-by-step explanation:

The given is,

                     Initial investment of $1000

                     Interest rate 1.2%, compounded annually

                     Future amount $1500

Step:1

           Formula to calculate the future amount with an interest rate of compounded annually,

                                 ............................(1)

           Where,

                F - Future worth amount

                P - Initial investment

                 r - Rate of interest

                n - No.of compounding in a year

                 t - No.of years

          From given,

                   F = $1500

                  P = $1000

                   r = 1.2%

                  n = 1 (compounded annually)

          Equation (1) becomes,

         Take log on both sides,

         Substitutes log values,

                        0.17609126 =( t ) 0.0051805  

                                           t = 33.99

                                          t ≅ 34 years

Result:

        34 years will the account reach $1500, if An initial investment of $1000 is deposited in an account with a 1.2%  interest rate, compounded annually.

0 is its x and y coordinate

step-by-step explanation:

i found the life tables for the year 2012. 

life table of males at age 30. probability of dying between ages x and x+1

total population:  

29–30 . . . . . . . . . . . . 0.001030

30–31 . . . . . . . . . . . . 0.001061

males:  

29–30 . . . . . . . . . . . . 0.001420

30–31 . . . . . . . . . . . . 0.001448

white population

29–30 . . . . . . . . . . . . 0.001005

30–31 . . . . . . . . . . . . 0.001037

white males

29–30 . . . . . . . . . . . . 0.001372

30–31 . . . . . . . . . . . . 0.001399

non hispanic white population

29–30 . . . . . . . . . . . . 0.001083

30–31 . . . . . . . . . . . . 0.001116

non hispanic white males

29–30 . . . . . . . . . . . . 0.001477

30–31 . . . . . . . . . . . . 0.001503

jacob, non hispanic white male. 30 years old.

probability that jacob lives to be 30 years old. 

since the given probabilities are probabilities of dying, i think we simply subtract it from 1 to get the probability of living. we will use the probability of non hispanic white male.

                                          probability of living to be 30 y.o.

29 - 30 : 1 - 0.001477 = 0.998523

30 - 31 : 1 - 0.001503 = 0.998497