Answered step by step
Verified Expert Solution
Question
1 Approved Answer
An investment of $8730.00 with interest becomes $22000.00 with an interest rate of 14 .6% compounded semi-annually, for how many years was the investment done?
An investment of $8730.00 with interest becomes $22000.00 with an interest rate of 14 .6% compounded semi-annually, for how many years was the investment done? PV =$ FV =$ IY = CY = i = n ( number of semi-annuals upto 4 decimal places) = Number of years = ( 2 decimal places)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started