Question
You are considering an investment in a Third World bank account that pays a nominal annual rate of 18%, compounded monthly. If you invest $5,000
You are considering an investment in a Third World bank account that pays a nominal annual rate of 18%, compounded monthly. If you invest $5,000 at the beginning of each month, how many months would it take for your account to grow to $445,000? Round fractional months up. please answer in excel manner
Group of answer choices
70
57
44
50
68
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International Financial Management
Authors: Cheol Eun
9th Edition
1260788865, 9781260788860
