Question

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

Answer 1

answer choices
170.202
14.3129
171.755
168.354

Answer 2

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

Answer 3

answer is the first one

Answer 4

if it works dont forget to medal and fan

Answer 5

is it right

Answer 6

it is c