Kaylee invested $830 in an account paying an interest rate of 6.6% compounded monthly. Assuming no deposits or withdrawals are made, how long would it take, to
the nearest year, for the value of the account to reach $1,260?

the answer is 200

step-by-step explanation:

the way the question is worded, it seems to imply the $264 interest is simple interest, not compound interest.

the simple interest for 2 years is $264; the simple interest for 1 year is $132.

$132 interest on a $600 investment means an interest rate of (132/600)*100 = 22%.

the value of $200 at 22% interest compounded annually for three years is

200%281.22%29%5e3

the amount of interest is that value, minus the original $200.

answer: 12

step-by-step explanation:

answer: the first one

step-by-step explanation: use a calculator and divide the minutes by the dollars.