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4 years ago

a person invests $2560 in an account that earns 5.2% annual interest. find when the value of the investment reaches $6000

Mathematics

1 answer:

ra1l [238]4 years ago

4 0

6000=2560(1+0.052)^t
Solve for t
t=log(6,000÷2,560)÷log(1+0.052)
t=16.8 years

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