4. (2 points) $8,000 is invested in an account paying 6% annual percentage rate of interest, compounded monthly. How long will it take for the investment to amount to $15,000? Give your answer in years rounded to one decimal place. Show your work.
4. (2 points) $8,000 is invested in an account paying 6% annual percentage rate of interest, compounded monthly. How long will it take for the investment to amount to $15,000? Give your answer in years rounded to one decimal place. Show your work.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 8CYU
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