Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How lo g would it take to double your money in an account paying 4% compounded quarterly? ignoring leap years, the investment should be doubled

How lo g would it take to double your money in an account paying 4% compounded quarterly? ignoring leap years, the investment should be doubled in ___ years and ___ days. (rounding to the nearest whole number as needed)
Is this solvable in Excel? If yes, what is the formula to make it work?

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

More Books

Students also viewed these Finance questions

Question

3. 22.2c What is the house money effect? Why is it irrational?

Answered: 1 week ago

Question

Before May 7 1999 they wouldnt have minded either.

Answered: 1 week ago

Question

As a matter of fact she has seen the figures.

Answered: 1 week ago

Question

Your analysis however does not account for returns.

Answered: 1 week ago