A Joan of $15.000 is made at 7.75% interest, compounded annually. After how many years will the amount due reach $38,000 or more? (Use the calculator provided if necessary.) Write the smallest possible whole number answer. I| years

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 15PT: Rachael deposits $3,600 into a retirement fund each year. The fund earns 7.5% annual interest,...
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A Joan of $15,000 is made at 7.75% interest, compounded annually. After how many years will the amount due reach $38,000 or more? (Use the calculator
provided if necessary.)
Write the smallest possible whole number answer.
years
Explanation
Check
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Transcribed Image Text:00 E A Joan of $15,000 is made at 7.75% interest, compounded annually. After how many years will the amount due reach $38,000 or more? (Use the calculator provided if necessary.) Write the smallest possible whole number answer. years Explanation Check 2021 McGraw Hill LLC. All Rights Reserved. Terms of Use Privacy Center Ae Type here to search A ENC F1 PrtScn Home End PgUp F2 F3 F4 F5 F7 F8 %23 V 2 2$ 5 3. 4. 9. 7. B. Alt Alt
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