Gabriel invested $17,000 in an account paying an interest rate of 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 $26,600?

Question

02-02-2021
Mathematics

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Gabriel invested $17,000 in an account paying an interest rate of 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 $26,600?

Sagot :

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