Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If I have $ 4 0 , 0 0 0 invested at 8 . 5 % effective interest, rounded to the nearest whole number of

If I have $40,000 invested at 8.5% effective interest, rounded to the nearest whole number of years how long will it take for my investment to reach $200,000? You can use any of the methods we've discussed in class to solve this, but regardless of what method you choose you must show your work.
image text in transcribed

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

Students also viewed these Finance questions