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timama [110]
3 years ago
9

You decide to put $150 in a savings account to save for a $3,000 down payment on a new car. If the account has an interest rate

of 2.5% per year and is compounded monthly, how long does it take you to earn $3,000 without depositing any additional funds? (3 points)
10.1101 years

119.954 years

121.321 years

134.34 years
Mathematics
1 answer:
garik1379 [7]3 years ago
3 0
After 121 years, you would have $3079.40

So 121.321 years is correct
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