Carter deposited $146.00 into a new savings account that earns 13% interest compounded quarterly. How long will it take for the balance to grow to $239.00? Round your answer to the nearest month. ___ years

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Tags
Categories
Ask a Question

Lee Mac asked Jan 10, 2023

477,951 views

45 votes

Carter deposited $146.00 into a new savings account that earns 13% interest compounded

quarterly. How long will it take for the balance to grow to $239.00?
Round your answer to the nearest month.

___ years and ___ months

Mathematics
college

Lee Mac asked Jan 10, 2023

by Lee Mac

3.4k points

0 Comments

Your comment on this question:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Your answer

Email me at this address if my answer is selected or commented on:Email me if my answer is selected or commented on

Privacy: Your email address will only be used for sending these notifications.

1 Answer

6 votes

Answer:

it should be around 4 months I believe

Explanation:

146.00(1+0.13/4)^(4×4)

EvanDotPro answered Jan 16, 2023

by EvanDotPro

2.3k points

0 Comments

Your comment on this answer:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers

0 Comments

Your comment on this question:

Your answer

1 Answer

0 Comments

Your comment on this answer:

Other Questions