A person invests 6500 dollars in a bank. The bank pays 5.5% interest compounded daily. To the nearest tenth of a year, how long must the person leave the money in the bank until it reachese 9300 dollars? A = P(1+)nt

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.4: Geometric Sequences And Series
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invests 6500 dollars in a bank. The bank pays 5.5% interest compounded
daily. To the nearest tenth of a year, how long must the person leave the money in
person
the bank until it reaches
9300
dollars?
A = P(1+ -)nt
acer
@
#3
$
%
&
3
4
7
8.
W
e
r
y
S
d.
f
g.
Transcribed Image Text:invests 6500 dollars in a bank. The bank pays 5.5% interest compounded daily. To the nearest tenth of a year, how long must the person leave the money in person the bank until it reaches 9300 dollars? A = P(1+ -)nt acer @ #3 $ % & 3 4 7 8. W e r y S d. f g.
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