A person invests 1000 dollars in a bank. The bank pays 6.75%

Last updated: 8/9/2022

A person invests 1000 dollars in a bank. The bank pays 6.75% interest compounded monthly. To the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 2500 dollars? A = P{1 + (r/n)^n t }