You have $2000 in a savings account that pays an annual interest rate of 3.25%. How long will it take for your initial investment to double?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter10: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 443RE: Elise invests $4500 in an account that compounds interest monthly and earns 6%. How long will it...
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You have $2000 in a savings account that pays an annual interest rate of 3.25%. How long will it take
for your initial investment to double?
Show your original equation and what you entered in your calculator to get your final answer
below!
1 2
3
4
5 6
.
oVo
Transcribed Image Text:You have $2000 in a savings account that pays an annual interest rate of 3.25%. How long will it take for your initial investment to double? Show your original equation and what you entered in your calculator to get your final answer below! 1 2 3 4 5 6 . oVo
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