A bank offers an annual rate of 2.25% compounded monthly. If $1,000 is deposited in this account, how long will it take

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answerhappygod
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A bank offers an annual rate of 2.25% compounded monthly. If $1,000 is deposited in this account, how long will it take

Post by answerhappygod »

A bank offers an annual rate of 2.25% compounded monthly. If
$1,000 is deposited in this account, how long will it take for the
balance to reach $1,600? Only enter the number, in years, rounded
to two decimal places.
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