Register
Jimmy invests $18,000 in an account that pays 5.85% compounded quarterly. How long (in years and months) will it take his investment to reach $25,000?
223k views
0 votes
Jimmy invests $18,000 in an account that pays 5.85% compounded quarterly. How long (in years and months) will it take his investment to reach $25,000?

User Sablefoste
by
7.6k points

1 Answer

4 votes

Answer:

2 years one month

Explanation:

making average 3g annually so I'd say 2 years 1 month

User Aman Bhardwaj
by
6.8k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.3m questions

10.9m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Write words to match the expression. 24- ( 6+3)
Link Copied!