3 years ago

Lily invested $90,000 in an account paying an interest rate of 4.6% compounded

Mathematics

1 answer:

kondaur [170]3 years ago

8 0

Answer:

20 years. ($221,246.39, to be exact.)

Step-by-step explanation:

Compound interest is a system where the interest rate always applies for the amount you first put your money in. So if you put 90,000 dollars as your first deposit, the annual interest would only apply to $90,000 every time.

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