7700 dollars is placed in an account with an annual interest rate of 5.5%. To the nearest year, how long will it take for the account value to reach 26500 dollars?

Solución

Solución

Time : 44.39

Pasos de solución

Translate the problem into an equation:

26500 = 7700 (1 + 0.055 t)

Resolver para

t, 26500 = 7700 (1 + 0.055 t) : t = 44.39

Time : 44.39

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