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lawyer [7]
4 years ago
9

On January 1, 1980, Moises deposited $1850 into a savings account paying 5.6% interest, compounded quarterly. If he hasn't made

any additional deposits or withdrawls since then, and if the interest rate stayed the same, in what year did his balance hit $3700, according to the rule of 72?
Computers and Technology
2 answers:
kondaur [170]4 years ago
8 0
The rule of 72 says that if you divide 72 by the interest rate the result is the number of years it takes to double your money.

72/5.6 = 12.86 years. to double your money from $1850 to $3700 it would take 12.86 years, which means you will have $3700 near the end of 1992.
CaHeK987 [17]4 years ago
5 0

Answer:

1992

Explanation:

a.p.e.x

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Answer:

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~Hello there! ^_^

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3 0
4 years ago
What are the events?
erastovalidia [21]

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a thing that happens or takes place, especially one of importance.

8 0
3 years ago
A binary search function is searching for a value that is stored in the middle element of an array. How many times will the func
Ganezh [65]

Answer: 1 time.

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