## In how many years a sum of $50,000 becomes$57,245 at the rate of 7% compounded annually?mettiDivyarupa Support​

Question

In how many years a sum of $50,000 becomes$57,245 at the rate of 7%
compounded annually?
metti
Divyarupa Support​

in progress 0
3 months 2021-07-25T20:02:40+00:00 1 Answers 0 views 0

1. Step-by-step explanation:

## Question:–

In how many years,a sum of $50,000 becomes$57,245 at the rate of 7% compounded annually ?

Given :

Principal is $50,000 Amount is$57,245

Rate is 7%

To find :

Time taken by the above principal to convert into the given amount

Process :

As we know that:-

Inserting the values in the formula:

The principal will become equal to amount after 2 years.

Hope it helps you…

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