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Jack is investing 5000 in an account that earns 4% interest compounded annually. Determine to the nearest month when the investment will be worth 8000

Jack is investing 5000 in an account that earns 4% interest compounded annually. Determine to the nearest month when the investment will be worth 8000
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4 votes
jack is investing 5000 in an account that earns 4% interest compounded annually. Determine to the nearest month when the investment will be worth 8000

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User ZhangChn
by
7.7k points

1 Answer

2 votes

Answer:

The nearest time is 15 years or 180 months

answered
User Flynorc
by
8.3k points
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