Register
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
89.1k views
4 votes
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
by
4.7k points

2 Answers

0 votes

Answer:

c

Step-by-step explanation:

User Pschulz
by
4.6k points
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
by
5.7k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.7m questions

7.4m answers

Other Questions

_____ reminds customers and clients that they made a good choice in selecting a company with which to do business, or it reminds them of the good qualities of their purchase.​
On august 1 the darius co. purchased a photocopy machine for $8,000. the estimated annual depreciation on the machine is $1,680. if the company prepares annual financial statements on december 31, the
When president obama was elected, the u.s. economy was in trouble, and has slid into a recession. consumer spending was low and getting worse. in an effort to stop the decline, president obama proposed
Ensuring that an individual is who they claim to be is the function of _____. select one: a. confidentiality b. authorization c. availability d. authentication e. nonrepudiation
The current market price for good y is above the equilibrium price, and then the price of a subsitute good, x, increases. the demand curve for good y shifts as a result. what is the likely outcome of the
Link Copied!