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Mathematics 71 Online
DADDYROXY:

Suppose that $3000 is placed in a savings account at an annual rate of 7.6% , compounded quarterly. Assuming that no withdrawals are made, how long will it take for the account to grow to $3978 ? Do not round any intermediate computations, and round your answer to the nearest hundredth.

balling4days:

ok so basically after one year u reach 3,234.58 after 2 u reach $3,487.50 and after 3.5 u reach $3978

jhonyy9:

@balling4days please explain the way how you get these answers ...

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