Question

@countonme123 ok im confused with this one

On January 1, 1990, Emilio deposited $1650 into a savings account paying 6.2% interest, compounded monthly. If he hasn't made any additional deposits or withdrawals since then, and if the interest rate has stayed the same, in what year did his balance hit $3300, according to the rule of 72?

A. 2002
B. 2001
C. 2000
D. 2003

Answer 1

this is same thing as doubling

Answer 2

im still confused with all the numbers

Answer 3

1650/6.2

Answer 4

then you will get the years take the years and and them to 1990 and you will get your answer

Answer 5

i got 2256

Answer 6

@countonme123

Answer 7

sorry about that i messed up again :P i told you 1650. the money doesnt matter! do 72/6.2 and you will understand then

Answer 8

b

Answer 9

yuppers