Based on the information for the value of the account to reach $6,020? given it will take 6 years.
Value of account:
Let x represent the number of years
(2.1%×5,300)x+5,300=6,020
111.3x+5,300=6,020
Collect like terms
111.3x=6,020-5,300
111.3x=720
Divide both side by 111.3x
x=720/111.3
x=6 years
Inconclusion for the value of the account to reach $6,020? given it will take 6 years
