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Vicente has just invested in a bond worth $1000 that is expected to increase in value by 3% per year. This means that the amount his bond is worth (4) can be calculated by A= 1000-1.03¹, where t is the number of years since the money was put in. How many years will it take for the value of his bond be $3942? Round your answer to two decimal places.

Vicente has just invested in a bond worth $1000 that is expected to increase in value by 3% per year. This means that the amount his bond is worth (4) can be calculated by A= 1000-1.03¹, where t is the number of years since the money was put in. How many years will it take for the value of his bond be $3942? Round your answer to two decimal places.

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Vicente has just invested in a bond worth $1000 that is expected to increase in value by 3% per year. This means that the amount his bond is worth (4) can be calculated by A = 1000-1.03, where t is the number of years since the money was put in. How many years will it take for the value of his bond be $3942? Round your answer to two decimal places. years Submit Ounction
Transcribed Image Text:Vicente has just invested in a bond worth $1000 that is expected to increase in value by 3% per year. This means that the amount his bond is worth (4) can be calculated by A = 1000-1.03, where t is the number of years since the money was put in. How many years will it take for the value of his bond be $3942? Round your answer to two decimal places. years Submit Ounction
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