When will I be a millionaire?

Barry monthly send 280 euros to the bank, which he deposits bear interest of 2.1% p. A. Calculate how many months must Barry save to save 1000000 euros?


Inflation, interest rate changes, or bank failures ignore.

Correct result:

n =  1133 months

Solution:

n=log(10000002.128010012+1)log(1+2.110012)=1133 months



We would be pleased if you find an error in the word problem, spelling mistakes, or inaccuracies and send it to us. Thank you!






Showing 0 comments:
avatar




Tips to related online calculators
Our percentage calculator will help you quickly calculate various typical tasks with percentages.

Next similar math problems:

  • Wooden block
    cuboid_3colors A cuboid-shaped wooden block has 6 cm length, 4 cm breadth, and 1 cm height. Two faces measuring 4 cm x 1 cm are colored in black. Two faces measuring 6 cm x 1 cm are colored in red. Two faces measuring 6 cm x 4 cm are colored in green. The block is divid
  • Quarantine cupcakes
    cake Mr. Honse was baking quarantine cupcakes. Mrs. Carr made twice as many as Mr. Honse. Ms. Sanchez made 12 cupcakes more than Mr. Honse. If they put all their cupcakes together (which they can’t because. .. quarantine!) they would have 108 cupcakes. How may
  • Celsius degrees
    teplomer_1 The temperature on Monday was 5 celsius. The temperature on Thursday was 7 degrees less than the temperature on Monday. What was the temperature on Thursday?
  • The temperature 8
    teplomer The temperature on Monday was –6°C. On Tuesday the temperature was 3 degrees lower. Write down the temperature on Tuesday.
  • Job applicants
    workers Job applicants: three-fourths of applicants had experience for a position. The number that did not have prior experience was 36. How many people applied for the job?
  • The outdoor
    teplomer The outdoor temperature was 60 degrees Fahrenheit at midnight. The temperature went down 3 degrees each hour for the next 4 hours. What was the temperature at 4 A. M. ?
  • Evaluate expression
    plusminus If x=2, y=-5 and z=3 what is the value of x-2y
  • Temperature 13
    teplomer Work out the temperature after each change. The temperature starts at 6°C and falls by 13°C. The temperature starts at 2°C and falls by 8°C
  • Wax candles
    sviecka A company makes wax candles in the shape of a cylinder. Each candle has a diameter of 4 inches and a height of 7 inches. If the company used 7561.12 in3 of wax, how many candles did it make? Use 3.14, and do not round your answer
  • Evaluate 5
    parabola2 Evaluate expression x2−7x+12x−4 when x=−1
  • Evaluate - order of ops
    expr Evaluate the expression: 32+2[5×(24-6)]-48÷24 Pay attention to the order of operation including integers
  • Positive integers
    number_line Several positive integers are written on the paper. Michaella only remembered that each number was half the sum of all the other numbers. How many numbers could be written on paper?
  • In about
    teplomer In about 12 hours in North Dakota the temperature rose from -33 degrees farenheit to 50 degrees farenheit. By how much did the temperature change?
  • Expression plus minus
    numbers_49 Evaluate expression: (-1)2 . 12 – 6 : 3 + (-3) . (-2) + 22 – (-3) . 2
  • Dozen
    plusminus_13 What is the product of 26 and 5? Write the answer in Arabic numeral. Add up the digits. How many of this is in a dozen? Divide #114 by this
  • The temperature
    teplomer_26 The temperature at 1:00 was 10 F. Between 1:00 and 2:00, the temperature dropped 15F. Between 2:00 and 3:00, the temperature rose 3F. What is the temperature at 3:00?
  • Collection of stamps
    stamp_11 Jano, Rado, and Fero have created a collection of stamps in a ratio of 5: 6: 9. Two of them had 429 stamps together. How many stamps did their shared collection have?