2500 dollars is placed in an account with an annual interest rate of 9%. To the nearest year, how long will it take for the account value to reach 7500 dollars?

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Solución

Solución

Time : 22.22

Pasos de solución

Translate the problem into an equation:

7500 = 2500 (1 + 0.09 t)

Resolver para

t, 7500 = 2500 (1 + 0.09 t) : t = 22.22

Time : 22.22

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