SOLUTION: Suppose you have $9100 deposited at 3.2% compounded daily. About how long will it take your balance to increase to $11000? (Round your answer to the nearest tenth of a year)

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Question 1181328: Suppose you have $9100 deposited at 3.2% compounded daily. About how long will it take your balance to increase to $11000? (Round your answer to the nearest tenth of a year)
Answer by ikleyn(52784) About Me  (Show Source):
You can put this solution on YOUR website!
.

Go to the lesson
    - Problems on discretely compound accounts
in this site.

Find the full theory and TWINS solved problems to yours.

Consider them as your TEMPLATES.

Having these templates in front of you, solve your problem in the same way.


After reading this lesson, you will tackle such problems on your own without asking for help from outside.