Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If you deposit today 8,162.12 in an account earning 8% compound interest, for how long should you invest the money in order to earn 19,544.27
If you deposit today 8,162.12 in an account earning 8% compound interest, for how long should you invest the money in order to earn 19,544.27 (profit)?
the answer is not 11.4, it is wrong
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