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10 February, 19:58

At age 25 james, thinking ahead deposits 2500 into a retirement account with an average annual interest rate of 11%. Find James age when his investment is

worth 10 times his original value.

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  1. 10 February, 22:55
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    FV=PV * (1+r*n)

    2500*10=2500 * (1+0.11*n)

    n≈82 (years)

    82+25=107

    James age is 107.
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