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  3. suppose that $6000 is placed in a savings account

Suppose that $6000 is placed in a savings account at an annual rate of 3%,...

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Basic Math

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Suppose that $6000 is placed in a savings account at an annual rate of 3%, compounded monthly. Assuming that no withdrawals are made, how long will it take for the account to grow to $7110? Do not round any intermediate computations, and round your answer to the nearest hundredth.

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