Ask a New Question

Question

If I deposit $3500.00 into an account with a annual rate of 4.5 compounded monthly how long would it to reach $5000.00
12 years ago

Answers

Steve
solve for t:

5000 = 3500(1+.045/12)^(12*t)
t =~ 8 years
12 years ago

Related Questions

3500 cm2=________L you deposit 3500 in an account that pays 4.5% annual interest, compounded monthly. How long will it... you deposit $3500 in an account that earns 2.5% annual interest. Find the balance after one year if... A sum of $3500 is invested at simple interest and amounts to $6020 after 3 years.calculate the total... If 200 mL of 4.3500 M aqueous HCl reacts stoichiometrically according to the balanced equation, how... There were 3500 people at a concert and 800 of them were children. There were 1300 more woman than m... Is the equation A=3500(1.03)^t a model of exponential growth or exponential decay, and what is the r... Is the equation A=3500(1.03)t a model of exponential growth or exponential decay, and what is the... Is the equation A=3500(1.03)^t a model of exponential growth or exponential decay, and what is the r... A=3500(1.03)^t what is the rate of change per time period? please explain
Ask a New Question
Archives Contact Us Privacy Policy Terms of Use