Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. if you open a savings account that earns 5 5 simpl

If you open a savings account that earns 5 5 simple interest per year what...

60.1K

Verified Solution

Question

Basic Math

image

If you open a savings account that earns 5 5 simple interest per year what is the minimum number of years you must wait to double your balance Suppose you open another account that earns 5 interest compounded yearly How many years will it take now to double your balance The minimum number of years you must wait to double your balance is the nearest whole number for the simple interest of 5 5 Round up to

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

How could conservative populism be easily be tipped into extremism?

Biology
1.2K views

Piper touches a block of ice, and she feels that it is very cold. How...

Biology
1.2K views

What is the correct days supply prescription Sertraline Zoloft 50mg Tablets Qty 60 Sig 1...

Physics
1.2K views

a State Kirchhoff s laws used in electrical networks b In the electric network shown...

Physics
1.2K views

Problem 4 A laser with wavelength 656 nm is incident on a diffraction grating with...

Basic Math
1.2K views

10 10 Question 3 Select the correct graph for each function f x 3x 2...

Calculus
1.2K views

Suppoes He demand function for x thousand of a certain item is p 130720 where...

Accounting
1.2K views

Darringer Products manufactures recreational equipment. One of the companys products, a...

Accounting
1.2K views

Sizemore Solutions purchased a machine for $65,000 on July 1, 2018. The company intends to...

Accounting
1.2K views

what is the term used when a company applies less overhead to production than it...

Accounting
1.2K views

Raye Corp. owns 100% of the outstanding common stock of Luke Inc. On January 1,208,...

Finance
1.2K views

13. A company that began the year with $23,920 in accounts receivable and ended the...