Question
Suppose that$2000is placed in a savings account at an annual rate of3.6%,compounded monthly. Assuming that no withdrawals are made, how long will it take for
Suppose that$2000is placed in a savings account at an annual rate of3.6%,compounded monthly. Assuming that no withdrawals are made, how long will it take for the account to grow to$2500?
Do not round any intermediate computations, and round your answer to the nearest hundredth.
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An Introduction to Investment Banks, Hedge Funds, and Private Equity
Authors: David P. Stowell
1st edition
978-0123745033, 0123745039, 978-9380931074
