Task $4$

A person deposits DKK $30,000$ into an account with a fixed annual interest rate of $2\mathrm{.}3\%.$

a$.$ Determine the amount in the account after $4$ years.

b$.$ How many years will it take in total before the amount exceeds DKK $35,000?$

Formel:

the interest formula:

$K_n=K_0*(1+r{)}^n.$

Annuity savings:

$A_n=y*\frac{(1+r{)}^n-1}{r}.$

Annuity loan where the benefit y must be calculated:

$y=G*\frac{r}{1-(1+r{)}^{-n}}.$

Annuity loan where the term $n$ must be calculated:

$n=-\frac{log(1-\frac{G*r}{y})}{log(1+r)}.$