199k views
2 votes
You put $550 in an account that

earns 2.5% annual interest
compounded quarterly. In how many
years will you have $1200?

User Boob
by
6.2k points

2 Answers

5 votes
You will earn 1200 in 32 years
User Oam Psy
by
6.1k points
4 votes
The answer is 31 years
User Rob Hardy
by
7.2k points