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Kevin invested $2,500 in an account paying an interest rate of 2.7% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, …

Kevin invested $2,500 in an account paying an interest rate of 2.7% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, …
asked 29.8k views
9 votes
Kevin invested $2,500 in an account paying an interest rate of 2.7%

compounded daily. Assuming no deposits or withdrawals are made,
how long would it take, to the nearest year, for the value of the
account to reach $3,460?

asked
User Asaf Aviv
by
7.8k points

1 Answer

7 votes

Answer:

It is 12 years

Explanation:

answered
User Chinmay Kanchi
by
8.2k points
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