Answer:
22 years approx.
Step-by-step explanation:
Step one
Given data
Principal P= $850
final amount A= $1125
rate r= 12.6%
Calculate time, solve for t
t = ln(A/P) / r
Step two:
Substitute
t= ln (1125/850)/0.0126
t=ln 1.32/0.0126
t= 0.277/0.0126
t=21.9
t= 22 years approx.
