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Posted on Aug 04, 2024

Suppose you deposited $ 1 0 , 0 0 0 in a savings account earning 3 . 0 % interest compounding daily. How long will

Suppose you deposited $

10, 000

in a savings account earning

3.0 %

interest compounding daily. How long will it take for the balance to grow to $

12, 000 ?

Answer in years rounded to two decimal places.

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