Mason invested $65,000 in an account paying an interest rate of 4.6% compounded annually. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $142,200?

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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Mason invested $65,000 in an account paying an interest rate of 4.6% compounded
annually. Assuming no deposits or withdrawals are made, how long would it take, to
the nearest year, for the value of the account to reach $142,200?

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