You decide to put $100 in a savings account to save for a $3,000 down payment on a new car. If the account has an interest rate of 2% per year and is compounded monthly, how long does it take you to earn $3,000 without depositing any additional funds

Question

anonymous · Answer

answer choices
170.202
14.3129
171.755
168.354

anonymous · Answer

start by making an equation: 3000=100(1.02)^x x= years

anonymous · Answer

answer is the first one

anonymous · Answer

if it works dont forget to medal and fan

anonymous · Answer

is  it right

anonymous · Answer

it is c