canelajoshua03 canelajoshua03

23-02-2021
Mathematics

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Kaylee invested $830 in an account paying an interest rate of 6.6% compounded monthly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $1,260?

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darcieeeee darcieeeee

01-03-2021

Answer:

t≈6

Plug values into A=P(1+r/n)^nt

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