Suppose $100 was deposited at the EOY 2011 into an account that earns 7% interest compounded annually. At the end of what year would it first be possible to withdraw $220?

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
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Suppose $100 was deposited at the EOY 2011 into an account that earns 7% interest compounded annually. At the end of what year would it first be possible to withdraw $220?
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