Register

Kaylee invested $830 in an account paying an interest rate of 6.6% compounded monthly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year,…

Kaylee invested $830 in an account paying an interest rate of 6.6% compounded monthly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year,…
asked 229k views
3 votes
Kaylee invested $830 in an account paying an interest rate of 6.6% compounded monthly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $1,260?

asked
User Shane N
by
7.9k points

1 Answer

3 votes

Answer:

t≈6

Plug values into A=P(1+r/n)^nt

answered
User Eistrati
by
7.7k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!