Question
Suppose that you invest $100 in a savings account which is earning an annual percentage rate of 8% (compounded annually). What is the rst year
Suppose that you invest $100 in a savings account which is earning an annual percentage rate of 8% (compounded annually). What is the rst year in which the interest credited to your account for that year exceeds your original investment in the account?
The answer is 34, I need a detailed answer please
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Gapenskis Understanding Healthcare Financial Management
Authors: George H. Pink, Paula H. Song
8th Edition
1640551093, 978-1640551091
