Find the time taken ifabank collect 3520 interest on 11000 at 8%?
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Answer:
How much money will be in a savings account in 10 years if $1,000 is deposited today and it earns 8% compounded monthly? Calculation: N: 120 %: .
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Step-by-step explanation:
I = ptr\100
3520 = [11000*X*8]\100
352000 = 88000*X
X = 352000\88000
X = 4
there fore the required time for your question is 4 years
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