Samuel deposits $1,000 every month into an account earning a monthly interest

rate of 0.45%. How many years would it be until Samuel had $86,000 in the

account, to the nearest tenth of a year? Use the following formula to determine your

answer.

((1+i)” – 1

A = the future value of the account after n periods

d = the amount invested at the end of each period

i = the interest rate per period

n = the number of periods