An initial investment of $1000 grows at an interest rate of 4% per year. How long will it take that investment to reach $1,500? Assume that

Question

An initial investment of $1000 grows at an interest rate of 4% per year. How long will it take that investment to reach $1,500? Assume that you make no further deposits or withdrawals from the investment account. Round to the nearest tenth of a year.

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Đan Thu 5 years 2021-08-23T21:50:10+00:00 1 Answers 41 views 1

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  1. diemthu
    0
    2021-08-23T21:51:17+00:00
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    Answer:

    it would take 12.5 or 12 and a half years

    Step-by-step explanation:

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