Asked by kaycee

Suzy deposits $500 in a savings account with an interest rate of 6% compounded annually. if suzy does not make any additional deposits or withdrawals, how long will it take for suzy to earn at least $95
Answered by R_scott
for y being the time in years

595 = 500 (1 + .06)^y

log(595 / 500) = y log(1.06)
Answered by Matt
$531.8
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