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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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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 Webmato
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6.4k points

2 Answers

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your answer is B
hope this helps
User GWigWam
by
5.6k points
4 votes

Answer: the answer should be b.1.6 years

Explanation:

User Mrchad
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