Question: I need help with getting the correct answer with explaining, please. You decide to deposit $400 at the end of each year into an account
I need help with getting the correct answer with explaining, please.
You decide to deposit $400 at the end of each year into an account that pays 8.9% interest. If the first deposit occurs one year from today, how many years will it take to accumulate a balance of $6,000 ? Answer Format: Enter your answer as a number rounded to 2 decimal places. An answer of 23.456 would be entered as 23.46
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
