When Colby was born, his parents invested $1,000 in a fund that paid an

annual interest of 8%. How old will Colby be when the investment is worth

at least $4,000?

Given :

When Colby was born, his parents invested $1,000 in a fund that paid an

annual interest of 8%.

To Find :

How old will Colby be when the investment is worth  at least $4,000 .

Solution :

Let, time taken is x years.

So, the formula is :

[tex]P = A_o + \dfrac{A_o \times r\times t}{100}\\\\4000 = 1000 + \dfrac{1000\times 8\times t}{100} \\\\80t = 3000\\\\t = \dfrac{3000}{80} \ years\\\\t = 37.5\ years[/tex]

Therefore, Colby will be 37.5 years old.

The age of Colby will be [tex]37.5[/tex] years.

The amount after t years is given by,

                            [tex]A=P+(\frac{P*r*t}{100} )[/tex]

Where P is principal, r is rate and t is time in years.

Given that, [tex]A=4000,P=1000,r=8\%[/tex]

Substitute values in above equations.

                    [tex]4000=1000+\frac{1000*8*t}{100} \\\\\frac{1000*8*t}{100}=3000\\\\t=37.5years[/tex]

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GROCERY STORE
JIM'S HOUSE
20
19
18
17
10
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
BANK
MALL
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
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mali?
7. Is Jim's house closer to the mall or the
bank? How many miles closer is it?
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miles until it runs out of goo Would Jim bo
able to make it from his house to the grocery
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Explain
9. Jim loft his house and drove to the bank
On his way back home, Jim's wife called
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Drag the appropriate arrow to
show your path as you go
from the start to the finisch
DOWN START ve cochojuan for Xbo v pollo heard
START
(2x + 1) - 36
5(x ) - 100
2.75
Jul
10
Jul
3(2x + 4) 19
182x-X-7
18-15-3(6x + 5)
15
Til hay
II
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THE
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