How many years will it be before your inheritance grows

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Reference no: EM131953059

(Future value) You are hoping to buy a house in the future and recently received an inheritance of $20,000. You intend to use your inheritance as a down payment on your house • If you put your inheritance in an account that earns a 7 percent interest rate compounded annually, how many years will it be before your inheritance grows to $30,000? Please explain the steps how to solve. Do not use Logarithms.

Reference no: EM131953059

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