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Suppose that $1,000 is invested at 8% interest compounded monthly. Use the formula A = P( 1 +r/n)t (a) How long (to the nearest
Suppose that $1,000 is invested at 8% interest compounded monthly. Use the formula A = P( 1 +r/n)t (a) How long (to the nearest month) before the value is $1,250? (b) How long (to the nearest month) before the money doubles? (c) What is the interest rate (compounded monthly and rounded to the nearest percent) if the money doubles in 5 years?
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a To find out how long it takes for the value to reach 1250 we can set up the equation A P1rnn where ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
