You have $25,000 dollars and you put it into a savings account that earns 6% compounded monthly.

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You have $25,000 dollars and you put it into a savings account that earns 6% compounded monthly.

[From: ] [author: ] [Date: 11-04-23] [Hit: ]

roughly 4 months (18.36 years)-um no I skip the account and buy pot and booze for a city wide party.......

How many years will it take to earn $75,000 dollars.

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A = P(1 + (r/n))^(nt)

75000 = 25000(1 + (.06/12))^12t
3 = 1.005^12t
ln 3 / ln 1.005^12 = t
18.355942271967703859009575555457 = t
18.36 years

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18years, roughly 4 months (18.36 years)

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um no I skip the account and buy pot and booze for a city wide party.

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