Name: RU ID: Math 285 Homework 3 1. Piscataway National Bank pays compound interest on...
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Name: RU ID: Math 285 Homework 3 1. Piscataway National Bank pays compound interest on savings accounts, but at different rates depending on the amount of the account balance. It pays an annual effective rate of 3% on balances under $10,000, but 4% on balances greater than or equal to $10,000. Suppose that you make a $5,000 deposit. How many years does it take for the account balance to reach $15,000
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