Sam opened a savings account that compounds interest at a rate of 3% annually. Let P be the initial amount Sam deposited and let t be the number of years.

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Sam opened a savings account that compounds interest at a rate of 3% annually. Let P be the initial amount Sam deposited and let t be the number of years the account has been open. a. If Sam opened the account with $500 and made no deposits or withdrawals, how much is in the account 10 years later? b. What is the least number of years it would take for such an account to double in value? Problem of the Day

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