142k views
4 votes
The national average interest rate for Savings Account is 0.13%. Calculate the time it will take to you double your money based up on the following scenarios: ● You’re getting a 0.05% interest rate and currently have $1,000 in your account. ● You’re getting 0.49% interest rate and currently have $40,000 in your account. ● You’re getting 0.8% interest rate and currently have $500 in your account.

User Wowandy
by
4.6k points

1 Answer

4 votes

Answer:

1) 1387 Years

2) 142 Years

3) 87 Years

Step-by-step explanation:

User Miguelarc
by
4.4k points