Alan W. answered • 05/21/20
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You need more information to solve this problem.
Future Value = FV = 37000
Present Value = PV = 25000
Interest = I
Years = n
FV = PV ( 1+I ) ^ n
37000 = 25000 (1 + I ) ^ n
So we need I to solve for n.
Alan W.
tutor
I put together a spreadsheet. After n=7 years the FV=35768.01 and after n=8 years the FV=376455.83
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05/21/20
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