A retirement account offers an 8% annual interest rate compounded monthly. If an account starts with $5,500, how long hundredth of a year, will it take until the account balance triples? Equation for solving y= type your answer... (1+0.08/ type your answer... )^(12x) It would take type your answer... years to reach $ type your answer...A retirement account offers an 8% annual interest rate compounded monthly. If an account starts with $5,500, how long, to the nearest hundredth of a year, will it take until the account balance triples? Equation for solving y= type your answer... (1+0.08/ type your answer... )^(12x) It would take type your answer... years to reach $ type your answer..