An investment that is worth $44,100 is expected to pay you $103,067 in X years and has an expected return of 17.66 percent per year. What is X? Input instructions: Round your answer to at least 2 decimal places. years
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The formula for compound interest is given by: $A = P(1 + r)^t$ In this problem, we have: $P = 44100$ $A = 103067$ $r = 0.1766$ We need to find $t$ (which is X). Show more…
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