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Algebra

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Difficult

Compound Interest Finding Time

ALGEBR-BLKYBV

Your parents left your an account that has $\$56,000$ in it. You know that the account compounds monthly at $4$%. The original investment was $\$26,500$.

Approximately how long ago did you parents invest the original amount, assuming they never added anything to the account, to the nearest year?

A

About 17 years

B

About 22 years

C

About 15 years

D

About 19 years