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Clara invests $6,000 in an account that pays 4.25% interest per year. After how many years will her investment be worth $10,000?

Clara invests $6,000 in an account that pays 4.25% interest per year. After how many years will her investment be worth $10,000?
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Clara invests $6,000 in an account that pays 4.25% interest per year. After how many years will her investment be worth $10,000?

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User Vityavv
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7.5k points

1 Answer

1 vote
T=log(10,000÷6,000)÷log(1.0425)
T=12.3 years
answered
User Chet
by
7.4k points
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