1. Business
  2. Economics
  3. for use compounded interest rate unless it explicitly requires using...

Question: for use compounded interest rate unless it explicitly requires using...

Question details

For, use compounded interest rate unless it explicitly requires using simple interest.
1) How long will it take for $15,000 to grow to $25,000 at 6% annual interest? State your answer in years (rounded to the nearest tenth of a year, meaning 3.12 years would be entered as 3.1 for example).

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution