?

Algebra

Free Version

Upgrade subject to access all content

Easy

Applications of Logarithms - 2,500 Invested

ALGEBR-EKG9XD

If 2,500 dollars is invested at an interest rate of $6.5\%$, compounded monthly,
how long will it take for the value of the investment to reach 7,500 dollars?

A

7 years

B

12 years

C

17 years

D

22 years