SOLUTION: you deposit $3000 in a savings account that pays 5% annual interest. if the account compounds daily,how long will it take for the account to reach $600 to the nearest year
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Question 925908: you deposit $3000 in a savings account that pays 5% annual interest. if the account compounds daily,how long will it take for the account to reach $600 to the nearest year
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
you deposit $3000 in a savings account that pays 5% annual interest. if the account compounds daily,how long will it take for the account to reach $600 to the nearest year
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It will increase, not go to $600.
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