Question: how long, in years, will it take an initial depoit of % 5 0 0 0 into an account that earns 4 . 7 5

how long, in years, will it take an initial depoit of %5000 into an account that earns 4.75% compounded monthly to grow to $10,000,if no other funds are deposited, and no withdrawals are made during the term?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!