Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In how many years will $22,000 have an accumulated value of $24,675.09 if interest is 3.7% compounded semiannually? Round the number of Years to

image

In how many years will $22,000 have an accumulated value of $24,675.09 if interest is 3.7% compounded semiannually? Round the number of Years to two decimal places if necessary. P/Y= C/Y= I/Y- PV S PMT-S FV = $ Years=

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To calculate the number of years it will take for 22000 to accumulate to 2467509 with an interest ra... 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

Contemporary Business Mathematics with Canadian Applications

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

10th edition

133052311, 978-0133052312

More Books

Students also viewed these Accounting questions

Question

What is the J-curve? Explain.

Answered: 1 week ago