Question
Calculate the time period of an investment in a mutual fund that matured to $68,493.24 yielding interest of $12,933.28 at 11.04% compounded monthly. ____ years
Calculate the time period of an investment in a mutual fund that matured to $68,493.24 yielding interest of $12,933.28 at 11.04% compounded monthly.
____ years ____months
Round up to the next whole month
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To solve this problem we can use the formula for compound interest A P 1 rnnt where A is the final ...
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Fundamentals of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
12th edition
978-0133075403, 133075354, 9780133423938, 133075400, 013342393X, 978-0133075359
