Math Problem Statement
4 years ago, you invested $25,000. In 4 years, you expect to have $35,908. If you expect to earn the same annual return after 4 years from today as the annual return implied from the past and expected values given in the problem, then in how many years from today do you expect to have $40,926?
Input instructions: Round your answer to 2 decimal places.
Solution
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Math Problem Analysis
Mathematical Concepts
Compound Interest
Exponential Growth
Logarithms
Formulas
Future Value Formula: FV = PV × (1 + r)^n
Logarithm Formula for Solving Exponential Equations: n = log(FV / PV) / log(1 + r)
Theorems
Compound Interest Formula
Suitable Grade Level
Grades 10-12
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