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Tayo opened an account with Bank of America with an initial deposit of $5000. He gets a 15% interest rate on the balance monthly. He

Tayo opened an account with Bank of America with an initial deposit of $5000. He gets a 15% interest rate on the balance monthly. He adds an additional $250 monthly after interest is calculated. How long will it take Tayo to have at least $11,000 in the account? _

Tayo opened an account with Bank of America with an initial deposit of $5000. He gets a 15% interest rate on the balance monthly. He adds an additional $250 monthly after interest is calculated. How long will it take Tayo to have at least $11,000 in the account?

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