A person invest $8800 in an account at 7% interest compounded annually. When will the value of the investment be 13,200? (Type a
n integer or decimal rounded two decimal places as needed)
1 answer:
Answer:
21.43
Step-by-step explanation:
Turn 7 percent to a decimal: 0.07
8800 × 0.07 = 616
13,200÷616=21.4285 etc
Round two decimal places
21.43
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