## Principal = 5 3 0 0 =5300equals, 5300 rupees Annual rate of interest = 6 . 5 % =6.5%equals, 6, point, 5, percent Total amount = 6 6 7 8 =

Question

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## Answers ( No )

The formula is

A=p (1+r)^t

A future value 6678

P present value 5300

R interest rate 0.065

T time?

6678=5300 (1+0.065)^t

6678/5300=(1+0.065)^t

Take the log for both sides

Log (6678/5300)=t×log (1+0.065)

Divide both sides by log (1+0.065)

T=(log(6,678÷5,300)÷log(1+0.065))

T=3.7 years

Hope it helps!