iDetectYT8221 iDetectYT8221

15-03-2024
Mathematics

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Find the time required for $2000 to be equal to $16,000 when deposited at 5% compounded monthly. Express your answer in years (Round to three decimal places).
a. 6.117 years
b. 7.236 years
c. 8.421 years
d. 9.543 years

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