If you can save $500 each month in an ordinary annuity that pays 3%, compounded monthly, how much will you save in 10 years?

i found two solutions,   n = 2 • ± √3 = ± 3.4641

step-by-step explanation:

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step-by-step explanation:

the answer is:

the correct option:

b.

to solve the problem, we need to remember how to operate to simplify exponential expressions using the logarithms.

we are given the equation:

then, using placing logarith with base 7 on both sides of the equation, we have:

so, rounding the obtained result to two decimal places (nearest hundreth), we have:

hence, we have that the correct option:

b.

have a nice day!