Use logarithms to solve the problem. How long will it take $15,000 to grow to $18,000 if the investment earns interest at the rate of 4%/year compounded monthly? (Round your answer to two decimal places.)
Use logarithms to solve the problem. How long will it take $15,000 to grow to $18,000 if the investment earns interest at the rate of 4%/year compounded monthly? (Round your answer to two decimal places.)
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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Use logarithms to solve the problem.
How long will it take $15,000 to grow to $18,000 if the investment earns interest at the rate of 4%/year compounded monthly? (Round your answer to two decimal places.)
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