SOLUTION: if the principal is $2000 and the interest rate is 8% compounded monthly, how many years would it take the investment to reach $6000?
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Question 441184: if the principal is $2000 and the interest rate is 8% compounded monthly, how many years would it take the investment to reach $6000?
Answer by Cabdiqafaar(9) (Show Source): You can put this solution on YOUR website!
n=log(6000)-log(2000)/log(1.08)
n=0.477/0.033
n=14.4
:- n=14
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