Question

Noah invested $8,600 in an account paying an interest rate of 2.4% compounded monthly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $10,900?

Answer 1

11 years

Explanation:

find the percent of $8,600 that would be $206

then subtract $8,600 from $10,900 that would be $2,300

finally devide 2,300 and 206 to get 11 years

Answer 2

10 Years

Explanation: