How long will it take $3,000 to grow to $20,000 if it invested at 6% compounded monthly? ___years (round to the nearest tenth of a year)

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 9E: Saving How much money should be invested every quarter at 10% per year, compounded quarterly, to...
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How long will it take $3,000 to grow to $20,000 if it invested at 6% compounded monthly?

___years (round to the nearest tenth of a year)

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