Question

Carrie deposited $5,288.73 into a savings account with an interest rate of 2.3% compounded quarterly. About how long will it take for the account to be worth $8,000?

Answer 1

I got 18 years, but how many months?

Answer 2

This is what I got for an answer: 18.04574388

Answer 3

With that number I have to find the month(s).

Answer 4

Do you want me to help yhu?

Answer 5

That would be great.

Answer 6

okay..just a sec.

Answer 7

Okay, thanks.

Answer 8

I believe you take $5,288.73 and divide it by 2.3% then subtract it from 8000

Answer 9

No that is wrong. I know that much.