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Question 4 20 pts You invest $3000 into an account that has a 3.7% annual interest rate and is compounded monthly. How long will it take until you have doubled your money? a.38.56 years b.1.6 years c.18.
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37 votes
37 votes
Question 4

20 pts
You invest $3000 into an account that has a 3.7% annual
interest rate and is compounded monthly. How long will it
take until you have doubled your money?


a.38.56 years
b.1.6 years
c.18.76 yigars
d.231.29 years

User Ryan Romanchuk
by
2.9k points

2 Answers

17 votes
17 votes
your answer is B
hope this helps
User MichaSchumann
by
3.2k points
23 votes
23 votes

Answer: the answer should be b.1.6 years

Explanation:

User Mikerojas
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