Asked by Anonymous

how long tme i have to wait to have $699 if i deposit $600 with 5.5% of interest?
Answered by bobpursley
Wouldn't it depend on how often the interest is compounded?
Answered by Dr. Jane
A = P + Prt

assuming compounded annually.

699 = 600 + 600(.055)t

Solve for t.
There are no AI answers yet. The ability to request AI answers is coming soon!