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31 August, 11:45

Hector deposits $400 dollars into a simple interest account. the interest rate for the account is 5.25 %. the function is p (t) = 400+21t represents the balance of the bank account as a function of time. Determine the number of years it will take for the account balance to reach given amount. (given amounts are $610, $1405, $2500, double original deposit, triple original deposit)

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  1. 31 August, 11:57
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    610 is 10 years

    1405 is 50 years

    2500 is 100 years

    double is 19

    triple is 38
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