Jessica deposited $2000 into an account with a 7.6% annual interest rate, compared quarterly. Assuming that no withdrawals are m ade, how long will it take for the investment to grow to $3722?
2 answers:
Answer:
Step-by-step explanation:
use
i=prt
i=interest
p= principal value
r=rate
t=time
now you want to find time then it will be
t= i/pr
put values
t= 3722/(2000*7.6%)
t= 2 years
calculation is in fraction but your question given you annual interest so time will also be 2 years not in months
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