Tom deposited 3000 into an account with a 3 annual interest rate compounded monthly Assuming...

60.1K

Verified Solution

Question

Algebra

image

Tom deposited 3000 into an account with a 3 annual interest rate compounded monthly Assuming that no withdrawals are made how long will it take for the investment to grow to 3555 Do not round any intermediate computations and round your answer to the nearest hundredth years

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