how long will it take for an investment to grow?

label Calculus
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Jul 9th, 2015

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Principal, P = $7,000

Amount, A = $10,000

Rate of interest, r = 3% = 0.03

Number of times interest is compounded per year = 365

Time, t = ?


The compound interest formula is


 

ANSWER:  11.89 years

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Jul 9th, 2015

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