aalih900 aalih900

01-11-2016
Mathematics

contestada

how long would it take for a principal of $5700 to accumulate to $8000 if invested at interest rate of 9% compound monthly?

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The1Toad1Sage The1Toad1Sage

01-11-2016

It would take about 5 months, because you can't get the exact amount of $8000 from 9% rate, but 5 months of that 9% can get you $8265.

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