Asked Dec 8, 2019

$200 will grow to $254 at an interest rate of 13 percent in ? years.


Expert Answer

Step 1

Computation of number of years:

The number of years is ...


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S200(1+0.13)" = $254 (1.13) = S1.27 log (1.27) log (1.13) 0.1038 0.0531 n =1.95


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