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Faith invested $4,100 in an account paying an interest rate of 2.6% compounded monthly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account
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5 votes
Faith invested $4,100 in an account paying an interest rate of 2.6%

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
$5,290?

User Bassant Ashraf
by
4.9k points

2 Answers

5 votes

Answer:

10

Explanation:

I got it right

User SolvingPuzzles
by
5.1k points
3 votes

Answer:

1 year (10 months)

Explanation:

User Moozy
by
4.0k points
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