Register

Question 4 20 pts You invest $3000 into an account that has a 3.7% annual interest rate and is compounded monthly. How long will it take until you have doubled your money? a.38.…

Question 4 20 pts You invest $3000 into an account that has a 3.7% annual interest rate and is compounded monthly. How long will it take until you have doubled your money? a.38.…
asked 110k views
1 vote
Question 4

20 pts
You invest $3000 into an account that has a 3.7% annual
interest rate and is compounded monthly. How long will it
take until you have doubled your money?


a.38.56 years
b.1.6 years
c.18.76 yigars
d.231.29 years

asked
User Webmato
by
8.1k points

2 Answers

0 votes
your answer is B
hope this helps
answered
User GWigWam
by
7.6k points
4 votes

Answer: the answer should be b.1.6 years

Explanation:

answered
User Mrchad
by
8.8k points
← Prev Question Next Question →

No related questions found

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

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
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!