What would be your answer if the apr compounded monthly

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Reference no: EM131970749

Lisa just deposited $5,000 into an account at Bank of America, where she will cam 4.8% (APR) compounded annually on this money.

If she wants to have a balance of $8,000, how many years will she have to wait? What would be your answer if the 4.8% (APR) is compounded monthly?

Reference no: EM131970749

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