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Thomas wants to save money for a vaction. Thomas invests $400 in an account that pays an interest rate of 4% How many years will it take for the account to reach $3400

Thomas wants to save money for a vaction. Thomas invests $400 in an account that pays an interest rate of 4% How many years will it take for the account to reach $3400
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23 votes
Thomas wants to save money for a vaction. Thomas invests $400 in an account that pays an interest rate of 4% How many years will it take for the account to reach $3400

asked
User Nkukhar
by
8.3k points

1 Answer

11 votes

Answer:

55 years

Explanation:

3,458.55 = 400.00(1 + 0.04)^55

answered
User Birdie
by
8.5k points
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