SOLUTION: You make payments of $150 at the end of each month into a savings account that earns 3% annual interest. How long will it take for the balance to reach $6000? Round your answer to
Algebra ->
Sequences-and-series
-> SOLUTION: You make payments of $150 at the end of each month into a savings account that earns 3% annual interest. How long will it take for the balance to reach $6000? Round your answer to
Log On
Question 1194555: You make payments of $150 at the end of each month into a savings account that earns 3% annual interest. How long will it take for the balance to reach $6000? Round your answer to the nearest whole number of months. Answer by ikleyn(52788) (Show Source):
You can put this solution on YOUR website! .
You make payments of $150 at the end of each month into a savings account that earns 3% annual interest.
How long will it take for the balance to reach $6000? Round your answer to the nearest whole number of months.
~~~~~~~~~~~~~~~~~
The problem is INCOPLETE, since it says NOTHING about the compounding period.
