holly wants to save money for an emergency. holly invests $1200 in an account that pays an interest rate of 4%. how many years w ill it take for the account to reach $15,400? round your answer to the nearest hundredth
1 answer:
15400=1200 (1+0.04)^t Solve for t T=log(15,400÷1,200)÷log(1+0.04) T=65 years
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