Question:

Chase invested $39,000 in an account paying an interest rate

Last updated: 8/16/2022

Chase invested $39,000 in an account paying an interest rate

Chase invested $39,000 in an account paying an interest rate of 3.2% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach $66,100?