Salary increases at average annual rate

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Upon graduating from college, you make an annual salary of $77,613. You set a goal to double it in the future. If your salary increases at an average annual rate of 7.90 percent, how long will it take to reach your goal?

Round the answer to two decimal places. (Please show the excel formula you used if you used excel. Otherwise,please show full work to show how you arrived at this answer.)

Reference no: EM131949051

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