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Attempt Results Entered Answer Preview Result 18.199 18.199 The answer above is NOT correct. (1 point) How long will it take for an investment of 1300 dollars to grow to 5100 dollars, if the effective rate of interest is 7.9 percent? (Assume compound interest at all times.) Answer 18.19893854 years. (Be sure to give several decimal places of accuracy.)

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Answer #1

Function Arguments 个 = 0.079 Rate 7.9% Pmt 0 个=-1300 Pv 1300 个 = 5100 Fv 5100 - number Type = 17.97700947 Returns the number

Hence, It will take 17.977 years

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