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astra-53 [7]
3 years ago
14

On January 1, 1970, Los deposited $1950 into a savings account paying 6.6% interest, compounded semiannually. If she hasn't made

any additional deposits or withdrawals since then, and if the interest rate has stayed the same, in what year did her balance hit $3900, according to the rule of 72?
Mathematics
2 answers:
Xelga [282]3 years ago
8 0

Answer: 1980

Step-by-step explanation:

rewona [7]3 years ago
5 0
T=72÷r
T=72÷6.6
T=10.9 years round your answer to get 11 years

The balance hits 3900 in
1,970+11 years=1,981
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