Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

39 Nico just deposited $13,620 into an account that pays interest of 14.4% p.a. How many years will it take the amount of money in

39
image text in transcribed
Nico just deposited $13,620 into an account that pays interest of 14.4% p.a. How many years will it take the amount of money in Nico's account to triple li.e. grow to 3 times the amount deposited)? Enter your answer as an integer rounded to 2 decimal places. For example, enter 114.34956 years as 114.35. Your Answer: Answer Page 39 of 40

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Behavioral Finance And Wealth Management

Authors: Michael M. Pompian

2nd Edition

1118014324, 978-1118014325

More Books

Students also viewed these Finance questions