20parisfrance04 20parisfrance04
  • 15-02-2020
  • Mathematics
contestada

$950 a month
How many months will it take to get to $750,000

Respuesta :

sqdancefan
sqdancefan sqdancefan
  • 15-02-2020

Answer:

  789.5 months

Step-by-step explanation:

Let m represent the number of months. You want to find m such that ...

  950m = 750000

Divide by the coefficient of m:

  m = 750000/950 ≈ 789.474

It will take about 789.5 months to get to $750,000 if no interest is earned on the account.

_____

That's almost 66 years. If the money earns interest, the time will be shorter.

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