Gracie deposited $20,000 into an account that compounds interest weekly at a rate of 1.56%. Each week,
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Gracie deposited $20,000 into an account that compounds interest weekly at a rate of 1.56%. Each week, her bank withdraws $200 from the account and puts that amount into her mortgage account. How long will it take until the account has a balance of $0? Round to the nearest tenth of a year.
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Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
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