1. If you invest $2,500 in a high-yield savings account with a 7.52% annual interest rate...

 

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1. If you invest $2,500 in a high-yield savings account with a 7.52% annual interest rate (compounded quarterly)... a) (2 points) What will the account's balance be in 6 years? b) (2 points) How long will it take for any deposit to triple in this account? Round to the nearest hundredth of a year. 1. If you invest $2,500 in a high-yield savings account with a 7.52% annual interest rate (compounded quarterly)... a) (2 points) What will the account's balance be in 6 years? b) (2 points) How long will it take for any deposit to triple in this account? Round to the nearest hundredth of a year.

Answer rating: 100% (QA)

a To find the balance after 6 years we can use the formula for compound interest ... View the full answer