Answered

Westonci.ca makes finding answers easy, with a community of experts ready to provide you with the information you seek. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

Please helpp!

You deposit $5700 in 7 bank account that pays 6.25% interest. How long would it take the account to reach $18,000 if the interest is compounded monthly?

Sagot :

itzjeremy2

Answer:

The result is the number of years, approximately, it'll take for your money to double. For example, if an investment scheme promises an 8% annual compounded rate of return, it will take approximately nine years (72 / 8 = 9) to double the invested money

We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.