Suppose $100 was deposited at the EOY 2011 into an account that earns 7% interest compounded annually. At the end of what year would it first be possible to withdraw $220?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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Suppose $100 was deposited at the EOY 2011 into an account that earns 7% interest compounded annually. At the end of what year would it first be possible to withdraw $220?
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