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Clara invests $5,000 in an account that pays 6.25% interest per year. After how many years will her investment be worth $10,000? 11.4 yr 14.1 yr 12.6 yr 13.7 yr
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Clara invests $5,000 in an account that pays 6.25% interest per year. After how many years will her investment be worth $10,000?

11.4 yr
14.1 yr
12.6 yr
13.7 yr

User Mozes Ong
by
7.7k points

1 Answer

6 votes
T=log(10000/5000)/log(1.0625)=11.4y
User PJx
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7.4k points
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