Question 1103290
.
Paul invests ​$3000 in a savings account earning interest at a rate of 4​% compounded annually. 
How long will it take for the ​$3000 to grow to ​$5700? 
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<pre>
Future value = {{{3000*(1+0.04)^n}}} = {{{3000*1.04^n}}}.


    TABLE

years	balance
----------------

0	3000.00
1	3120.00
2	3244.80
3	3374.59
4	3509.58
5	3649.96
6	3795.96
7	3947.80
8	4105.71
9	4269.94
10	4440.73
11	4618.36
12	4803.10
13	4995.22
14	5195.03
15	5402.83
16	5618.94
17	5843.70
18	6077.45

</pre>

<U>Answer</U>.  16 years is not enough.   17 years is enough.