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Suppose you deposited $4,000 in a savings account earning 2.1% interest compounding daily. How long will...

Suppose you deposited $4,000 in a savings account earning 2.1% interest compounding daily. How long will it take for the balance to grow to $11,000? Answer in years rounded to two decimal places.

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Answer #1

Hence, It will take 48.17 years (17,583/365)

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