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A person invests 6500 dollars in a bank. The bank pays 7% interest compounded quarterly. To the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 20100 dollars?
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A person invests 6500 dollars in a bank. The bank pays 7% interest compounded quarterly. To the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 20100 dollars?

User Prodaea
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1 Answer

2 votes

Answer:

16.2 years

Explanation:

User Gary Mendonca
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7.5k points
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