Kevin invested $2,500 in an account paying an interest rate of 2.7% compounded daily. 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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asked Jun 27, 2022 29.8k views

9 votes

Kevin invested $2,500 in an account paying an interest rate of 2.7%

compounded daily. Assuming no deposits or withdrawals are made,
how long would it take, to the nearest year, for the value of the
account to reach $3,460?

Mathematics
high-school

Asaf Aviv asked

by Asaf Aviv

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1 Answer

7 votes

Answer:

It is 12 years

Explanation:

Chinmay Kanchi answered Jul 4, 2022

by Chinmay Kanchi

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