Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How many years will it take for $500 to grow to $1,066.93 if it's invested at 9 percent compounded annually? The number of years it

How many years will it take for $500 to grow to $1,066.93 if it's invested at 9 percent compounded annually?

The number of years it will take for $500 to grow to $1,066.93 at 9 percent compounded annually is ___ years. (Round to one decimal place.)

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

The Handbook Of Equity Derivatives

Authors: Jack Clark Francis, William W. Toy, J. Gregg Whittaker

1st Edition

0471326038, 978-0471326038

More Books

Students also viewed these Finance questions

Question

Can workers be trained in ethics? How? Defend your answer.

Answered: 1 week ago