document.write( "Question 1103290: Paul invests $3000 in a savings account earning interest at a rate of
\n" ); document.write( "4% compounded annually. How long will it take for the $3000 to grow to $
\n" ); document.write( "5700? \n" ); document.write( "

Algebra.Com's Answer #718108 by ikleyn(52814) $\"\"$ $\"About$

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\n" ); document.write( "Paul invests $3000 in a savings account earning interest at a rate of 4% compounded annually.
\n" ); document.write( "How long will it take for the $3000 to grow to $5700?
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document.write( "Future value =  = .\r\n" );
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document.write( "\r\n" );
document.write( "    TABLE\r\n" );
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document.write( "years	balance\r\n" );
document.write( "----------------\r\n" );
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document.write( "0	3000.00\r\n" );
document.write( "1	3120.00\r\n" );
document.write( "2	3244.80\r\n" );
document.write( "3	3374.59\r\n" );
document.write( "4	3509.58\r\n" );
document.write( "5	3649.96\r\n" );
document.write( "6	3795.96\r\n" );
document.write( "7	3947.80\r\n" );
document.write( "8	4105.71\r\n" );
document.write( "9	4269.94\r\n" );
document.write( "10	4440.73\r\n" );
document.write( "11	4618.36\r\n" );
document.write( "12	4803.10\r\n" );
document.write( "13	4995.22\r\n" );
document.write( "14	5195.03\r\n" );
document.write( "15	5402.83\r\n" );
document.write( "16	5618.94\r\n" );
document.write( "17	5843.70\r\n" );
document.write( "18	6077.45\r\n" );
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\n" ); document.write( "\n" ); document.write( "Answer. 16 years is not enough. 17 years is enough.\r
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