Aubree invested $4,400 in an account paying an interest rate of 2.4% compounded quarterly. Assuming no deposits or withdrawals are made, how long would it take, te the nearest tenth of a year, for the value of the account to reach $6,880? 圈 - Answer: Submit Answer attempt i out of 2

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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Soniyah Reed
Compounding - Solve for Time
Oct 10, 11:17:54 PM
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Aubree invested $4,400 in an account paying an interest rate of 2.4% compounded
quarterly. Assuming no deposits or withdrawals are made, how long would it take, te
the nearest tenth of a year, for the value of the account to reach $6,880?
Answer:
Submit Answer
attempt 1 out of z
NC
&
3
5
8
%244
Transcribed Image Text:Soniyah Reed Compounding - Solve for Time Oct 10, 11:17:54 PM Watch help video Aubree invested $4,400 in an account paying an interest rate of 2.4% compounded quarterly. Assuming no deposits or withdrawals are made, how long would it take, te the nearest tenth of a year, for the value of the account to reach $6,880? Answer: Submit Answer attempt 1 out of z NC & 3 5 8 %244
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