mper4319 mper4319

Today at 1:06 PM
Mathematics

Answered

Miles would like to open up a CD that has an interest rate of 2.4% compounded monthly. His initial deposit is $5,000. How long does he have to keep the money in this account in order to have a balance of $5,500? Round to the nearest tenth of a year.

The answer was 4 but I answered with 0.1

Answer :

pandaen932 pandaen932

Today at 1:11 PM

Answer: In the picture, I showed my work to explain why the answer is four. Just plug in the given values and solve for the unknown.

Step-by-step explanation:

${teks-lihat-gambar} pandaen932

${teks-lihat-gambar} pandaen932

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