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Brooklyn invested $25,000 in an account paying an interest rate of 6.8% compounded monthly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the
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Brooklyn invested $25,000 in an account paying an interest rate of 6.8% 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 $65,500 ?

User Badgerspot
by
8.7k points

2 Answers

2 votes

Answer:

14

Explanation:

User John Tor
by
8.3k points
8 votes

Answer:

14.204 years

Explanation:

User Madc
by
8.5k points
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