SOLUTION: I need $100,000 for a down payment on a house. I currently have %20,000 invested. It is earning 8.25% interest annually. Set up and solve an equation that will tell me how many yea
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Question 1118424: I need $100,000 for a down payment on a house. I currently have %20,000 invested. It is earning 8.25% interest annually. Set up and solve an equation that will tell me how many years it will take to have my down payment.
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
^t\ =\ \frac{100000}{20000})
^t\)\ =\ \ln(5))
\)\ =\ \ln(5))
Solve for 
John
My calculator said it, I believe it, that settles it
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