karenfungusa karenfungusa

25-03-2020
Mathematics

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Robert invested $250 in an account paying an interest rate of 4.3% compounded annually. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach $550?

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nikolaychuknadea nikolaychuknadea

25-03-2020

Answer:

18.8 years

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