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a) A person deposits $3000 into a savings account that earns interest at 7,50% compounded daily. How long did it take - $3000 to accumulate
a) A person deposits $3000 into a savings account that earns interest at 7,50% compounded daily.
- How long did it take
- $3000 to accumulate to $3500 at j4=10% (compounded quartarly) - $3000 to accumulate to $3800 at j2=12% (compounded semianually) - $3000 to accumulate to $4200 at j12=16% (compounded monthly)
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