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Determine how long did it take for the account to accumulate

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Your grandfather has been putting $1000 into a savings account on every birthday since your first(i.e. when you turned one).The account pays an interest rate of 3% per annum. Determine how long did it take for the account to accumulate to a current balance of $23,414.44 and therefore how old are you now.

Reference no: EM132605110

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