Question: Finding the time in a word problem on compound interest Carmen needs $3576 for a future project. She can invest $3000 now at an annual
Finding the time in a word problem on compound interest Carmen needs $3576 for a future project. She can invest $3000 now at an annual rate of 4.8 %, compounded monthly. Assuming that no withdrawals are made, how long will it take for her to have enough money for her project? Do not round any intermediate computations, and round your answer to the nearest hundredth years 2
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