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Amount to support the trip

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Luke is saving for a trip around the world for his family and as of today has accumulated $2315 in a trip fund. His goal is to accumulate 4 times this amount to support the trip. Assuming that all of Luke's trip fund is invested to earn an interest rate of 6.15%, how long, in years and in fractions of a year, will it take Luke to achieve his goal?

Reference no: EM131317345

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