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Jordan invested $8,500 in an account paying an interest rate of 4.1% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account
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Jordan invested $8,500 in an account paying an interest rate of 4.1% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $13,070?

User Alaya
by
6.5k points

2 Answers

0 votes

Answer:

11 years

Explanation:

User Murungu
by
7.2k points
4 votes

Answer:

Its actually 10 years

Explanation:

Its about 10.4 but it says nearest year and 10 is closer than 11

User RHPT
by
7.2k points
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