Asked by jak
David invested $68,000 in an account paying an interest rate of 5.5% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach $93,000?
Answers
Answered by
oobleck
68000(1 + 0.055/360)^(360*x) = 93000
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