Question
Cooper has an antique painting that he hopes to sell for $12,000 in the future (FV). He was just offered $6,000 for the painting (PV).
Cooper has an antique painting that he hopes to sell for $12,000 in the future (FV). He was just offered $6,000 for the painting (PV). At a discount rate of 12% with monthly compounding, how many years would Cooper have to wait if he wanted to sell for the $12,000?
69.66 years
5.81 years
6.12 years
73.40 years
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Financial Freedom
Authors: Timothy Turner
1st Edition
1801573573, 978-1801573573
