Inactive Tutor answered • 01/14/25
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It would take approximately 30 months for the account balance to exceed $15,000.
Mirian I.
asked • 01/28/15Math Question
Suppose you deposit $12,000 in a bank account bearing 9.6% interest compounded monthly.
How many months would it take (to the nearest month) for your account balance to top $15,000? Use the trial and error method with a calculator to find your answer.
How many months would it take (to the nearest month) for your account balance to top $15,000? Use the trial and error method with a calculator to find your answer.
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