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You deposit $1000 in an account that pays 3% annual interest compounded monthly. How many years will it take for your balance to at least be $3500?

You deposit $1000 in an account that pays 3% annual interest compounded monthly. How many years will it take for your balance to at least be $3500?
asked 8.7k views
3 votes
You deposit $1000 in an account that pays 3% annual interest compounded monthly. How many years will it take for your balance to at least be $3500?

asked
User Simbada
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7.8k points

1 Answer

2 votes
More then 2 definitely
answered
User Phobis
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8.4k points
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