Question
Suppose that$2500is placed in a savings account at an annual rate of2.4%,compounded monthly. Assuming that no withdrawals are made, how long will it take for
Suppose that$2500is placed in a savings account at an annual rate of2.4%,compounded monthly. Assuming that no withdrawals are made, how long will it take for the account to grow to$3500?Do not round any intermediate computations, and round the answer to the nearest hundredth.
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Foundations of Finance The Logic and Practice of Financial Management
Authors: Arthur J. Keown, John D. Martin, J. William Petty
8th edition
132994879, 978-0132994873
