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anonymous

  • 5 years ago

holly wants to save money for an emergency. holly invests $1200 in an account that pays an interest rate of 4%. how many years will it take for the account to reach $15,400? round your answer to the nearest hundredth

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  1. anonymous
    • 5 years ago
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    It's 4% per month right. So SI = ( PRT ) /100 15400 -1200 = 1200 * 4 * T /100 14200 = 48 T T = 14200/48 = 296 months

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