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14 April, 09:34

A person invests $2560 in an account that earns 5.2% annual interest. find when the value of the investment reaches $6000

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  1. 14 April, 10:54
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    6000=2560 (1+0.052) ^t

    Solve for t

    t=log (6,000:2,560) : log (1+0.052)

    t=16.8 years
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