If $500 is deposited in a bank account paying 3.5% interest compounded monthly, then the account has
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If $500 is deposited in a bank account paying 3.5% interest compounded monthly, then the account has value V(N) = 500 (1 + 0.035/12) N dollars after N months. By examining the graph of V(N), find, to the nearest integer N, the number of months it takes for the account value to reach $800.
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0035 12 Let VN 500 1 To determine when the account value r...View the full answer
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