Suppose that  $2000  is placed in a savings account at an annual rate of 6%, compounded monthly. Assuming that no withdrawals are made, how long will it take for the account to grow to  $3212?  round your answer to the nearest hundredth.

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 that 

$2000  is placed in a savings account at an annual rate of 6%, compounded monthly. Assuming that no withdrawals are made, how long will it take for the account to grow to 
$3212?  round your answer to the nearest hundredth.
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