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Algebra

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Time for Compounding Interest

ALGEBR-UYHYUZ

If you invest $\$27,000$ in an account that compounds continuously at $4.2$% per year, how many years will it take for the account to reach $\$50,000$?

A

About 14 years and 8 months.

B

About 12 years and 3 months.

C

About 17 years and 2 months.

D

About 15 years and 10 months.