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You can model that you expect a 1.25% raise each year that you work for a certain company. If you currently make $40,000, how many
You can model that you expect a 1.25% raise each year that you work for a certain company. If you currently make $40,000, how many years should go by until you are making $120,000? (Round to the closest year.)
I have this worked all the way down to this and not I am stuck
A=P(1+r)n
120,000=40,000(1+0.0125)^N
(1.0125^N) 120,000/40,000
n=log 1.0125^3
n=log^3/ log 1.0125
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