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12 February, 22:15

g Your savings account earns 1.72% interest. You have $3,000 left over from an internship that you will put into the saving account. There is currently no money in the account : (How many years is it until there is $3,756 in the account?

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  1. 12 February, 23:25
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    It will take 13 years and 66 days

    Explanation:

    Giving the following information:

    Your savings account earns 1.72% interest.

    Present value = $3,000

    Final value = $3,756

    To calculate the number of years, we need to use the following formula:

    n = ln (FV/PV) / ln (1+i)

    n = ln (3,756/3,000) / ln (1.0172)

    n = 13.18 years

    To be more specific = 365*0.18 = 66

    It will take 13 years and 66 days
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Home » Business » g Your savings account earns 1.72% interest. You have $3,000 left over from an internship that you will put into the saving account. There is currently no money in the account : (How many years is it until there is $3,756 in the account?
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