Suppose that$3000is placed in a savings account at an annual rate of6%,compounded monthly. Assuming that no withdrawals
Fantastic news! We've Found the answer you've been seeking!
Question:
Suppose that$3000is placed in a savings account at an annual rate of6%,compounded monthly. Assuming that no withdrawals are made, how long will it take for the account to grow to$4500?
Do not round any intermediate computations, and round your answer to the nearest hundredth.
Posted Date: