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If you deposit $5000 into an account paying 6% annual interest compounded monthly, how long until there is $8000 in the account?

If you deposit $5000 into an account paying 6% annual interest compounded monthly, how long until there is $8000 in the account?
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If you deposit $5000 into an account paying 6% annual interest compounded monthly, how long until

there is $8000 in the account?

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User Geuis
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8.1k points

1 Answer

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Answer: If do recall it is 7.9 but estimated

If you deposit $5000 into an account paying 6% annual interest compounded monthly-example-1
answered
User Jitendra Pancholi
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