Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Many, many years ago your great, great, great, great grandmother left you $1 in a bank account that was just discovered. There is $100,000

Many, many years ago your great, great, great, great grandmother left you $1 in a bank account that was just discovered. There is $100,000 in it today! Assuming a Quoted Rate, or Annual Percentage Rate (APR), of 6.3% (compounded weekly), approximately how many years ago did she bequeath this to you? 183.22 years ago. 182.86 years ago. 188.44 years ago. 182.76 years ago.

Step by Step Solution

3.49 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

Choose 1Y CY ... 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

Cost Accounting Foundations and Evolutions

Authors: Michael R. Kinney, Cecily A. Raiborn

8th Edition

9781439044612, 1439044619, 978-1111626822

More Books

Students also viewed these Accounting questions

Question

How many moles of water are there in 1.000 L? How many molecules?

Answered: 1 week ago