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On January 1, 1990, Emilio deposited $1650 into a savings account paying 6.2% interest, compounded monthly. If he hasn't made any additional deposits or withdrawals since then, and if the interest rate
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On January 1, 1990, Emilio deposited $1650 into a savings account paying

6.2% interest, compounded monthly. If he hasn't made any additional
deposits or withdrawals since then, and if the interest rate has stayed the
same, in what year did his balance hit $3300, according to the rule of 72?
O A. 2001
O B. 2003
OC. 2002
O D. 2000

User Jamil
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2 Answers

0 votes

Answer:

c

Step-by-step explanation:

User Pschulz
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3 votes

Answer:

in 2001 you would have 3,257.69

and in 2002 you would have 3,465.51

Step-by-step explanation:

User Lithilion
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