ANSWERS: 2
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20,000=12,500(1 +0.0144)^4t 20,000/12,500 = 1.0144^4t ln1.6 = 4(t)ln1.0144 t= 0.47/0.057= 8.24years
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Where the heck are you getting a 5.75% interest? I'd sure like to put my money there!
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