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Ira Lisetskai [31]
3 years ago
7

A savings account is started with an initial deposit of $500. The account earns 1.5% interest compounded annually.

Mathematics
1 answer:
Ghella [55]3 years ago
3 0
A) A=500(1+0.015)^t
b)800=500(1.015)^t
800/500=1.015^t
t=log(800/500)/log(1.015)
t=31.6 years
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