You are considering investing in a bank account that pays a nominal annual rate of 7%, compounded monthly. If you invest
Posted: Fri Jul 01, 2022 7:51 am
You are considering investing in a bank account that pays anominal annual rate of 7%, compounded monthly. If you invest $3,000at the end of each month, how many months will it take for youraccount to grow to $210,000? Note that if the final answer is not awhole number, be sure to round it up to the nearest wholenumber.