Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If you deposit $10,000 in an account with an annual rate of 9% compounded semiannually, how long will it take for you to have $2
If you deposit $10,000 in an account with an annual rate of 9% compounded semiannually, how long will it take for you to have $2 million in the account?
A: 120.37 Years
B: 53.43 Years
C: 60.18 Years
D: 61.48 Years
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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