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Author Question: If you put 2,000 into a savings account with an 8 interest rate, compounded annually, how many years ... (Read 180 times)

evelyn o bentley

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on: Jun 29, 2018
If you put 2,000 into a savings account with an 8 interest rate, compounded annually, how many years will it take for your money to triple? Round to the nearest year.

Question 2

During your three-month internship at an athletic club, you put 2,000 into a savings account. If the interest rate on the account is 7.25, compounded annually, how many years will it take for your money to double? Round to the nearest year.


Missbam101

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Reply #1 on: Jun 29, 2018
Answer to Question 1

25

Answer to Question 2

14


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