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Suppose you have a $9,400 deposit with a 4.5% interest rate compounded daily. About how long will it take for your balance to increase to $10,800? A. Less than 1 year B. 1 to 2 …

Suppose you have a $9,400 deposit with a 4.5% interest rate compounded daily. About how long will it take for your balance to increase to $10,800? A. Less than 1 year B. 1 to 2 …
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Suppose you have a $9,400 deposit with a 4.5% interest rate compounded daily. About how long will it take for your balance to increase to $10,800?

A. Less than 1 year

B. 1 to 2 years

C. 2 to 3 years

D. More than 3 years

User Dariss
by
6.7k points

1 Answer

1 vote
D more than 3 years because if you deposit
User Aurril
by
8.9k points
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