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How long would it take $3,500 to grow to $8,400 if the annual rate is 4.9% and interest in compounded monthly?

How long would it take $3,500 to grow to $8,400 if the annual rate is 4.9% and interest in compounded monthly?
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3 votes
How long would it take $3,500 to grow to $8,400 if the annual rate is 4.9% and interest in compounded monthly?

User Tooshel
by
8.3k points

1 Answer

6 votes
I believe the answer is 2 years and 4 months
User Richard Astbury
by
7.7k points
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