Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4. [-!1 Points] DETAILS OHOO Submissions Used How long will it take for $2,000 to grow to $9,000 if the investment earns an interest rate

image text in transcribed
image text in transcribed
4. [-!1 Points] DETAILS OHOO Submissions Used How long will it take for $2,000 to grow to $9,000 if the investment earns an interest rate of 36% per year compounded monthly. Inga/2! O 12ln[1.03) Years 0 M) years 12ln[1.03) O ML years |n{1.03} O 12in 9f2! years 1.03 O 12in 2,193 years |n(1.03)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Algebra A Combined Approach (Subscription)

Authors: Elayn Martin Gay

5th Edition

013417920X, 9780134179209

More Books

Students also viewed these Mathematics questions

Question

3. What is my goal?

Answered: 1 week ago

Question

2. I try to be as logical as possible

Answered: 1 week ago