Question
Using a Money Market rate 1.24/1.25 APY show how long it would take for the account to reach one million dollars given an initial investment
Using a Money Market rate 1.24/1.25 APY show how long it would take for the account to reach one million dollars given an initial investment of $1000 assuming the interest was compounded monthly. Show work& calculations using compound interest formula A=P(1+ r ) nt
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Foundations Of Financial Markets And Institutions
Authors: Franco Modigliani, Frank J. Jones, Michael G. Ferri, Frank J. Fabozzi
3rd Edition
0130180793, 978-0130180797
