Ashlev deposited $6000 into an account with a 6% annual interest rate, compounded monthly. Assuming that no withdrawals are made, how long will it take for the investment to grow to $9636? Do not round any intermediate computations, and round your answer to the nearest hundredth. I| years ?

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A: Given Principal amount p = $3500 Interest rate r = 2.75% = 0.0275 Time t = 6 years

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A: The complete solutions are given below