If you get $2,000 for graduation gifts and invest it in an account that earns 1.5% interest
1 answer:
Answer:
It is VERY important to use the attached formula.
Years = ln (Total / Principal) / rate
Years = ln (6,000 / 2,000) / rate
Years = ln (3) / rate
Years = 1.0986122887 / .015
Years = 73.24 years
This takes a LONG time because the interest rate is extremely low.
Step-by-step explanation:
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