+0  
 
0
105
1
avatar
How long must $5200(USD) be left in the bank to have $5439.25? 9% interest compounding monthly.

This is Compound Interest: A=P(1+r/n)^nt

Please and thank you!
Guest Apr 10, 2012
Sort: 

1+0 Answers

 #1
avatar
0
How long must $5200(USD) be left in the bank to have $5439.25? 9% interest compounding monthly.

This is Compound Interest: A=P(1+r/n)^nt

$5439.25=5200(1+.09/12)^12x

about 6 months?

FITZ
Guest Apr 10, 2012

34 Online Users

avatar
avatar
avatar
avatar
avatar
avatar
avatar
We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.  See details