Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If the accumulated value of an investment that is growing at 4.82% compounded quarterly is $50,872.23, and the interest earned on this investment is $8,872.23,
If the accumulated value of an investment that is growing at 4.82% compounded quarterly is $50,872.23, and the interest earned on this investment is $8,872.23, calculate the time period of this investment.
years
months
Express the answer in years and months
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started