Question
Some time ago a $109,800 initial deposit opened an account. No other deposits or withdrawals have been made. Today the annual interest is credited
Some time ago a $109,800 initial deposit opened an account. No other deposits or withdrawals have been made. Today the annual interest is credited to the account. Total lifetime interest now equals $176,525. The account earns 5.8% annual interest. How many years ago was the account established?
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Get StartedRecommended Textbook for
Business Mathematics In Canada
Authors: Ernest Jerome
7th edition
978-0071091411, 71091416, 978-0070009899
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