Since then the bank has been paying you 1 per month


Some time ago, you put £500 into a bank account for a "rainy day." Since then, the bank has been paying you 1% per month, compounded monthly. Today, you checked the balance, and found it to be £708.31. How long ago did you deposit the £500?

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Mechanical Engineering: Since then the bank has been paying you 1 per month
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