What would her balance be after 3 years?
Hi, tutor, i’m not really sure how to do th is problem Bank A offers an interest rate of 5.5% per annum compounded annually on deposits of more than $10,000. An investor wants to deposit $25,000. (i) What would her balance be after 3 years? (my answer: 67448.3) (ii) How long will she need to wait until the balance is twice the initial deposit? (my […]