Question
You are considering the purchase of an investment that pays an annual rate of 6.80%, compounded monthly. If you invest $3,500 at the end of
You are considering the purchase of an investment that pays an annual rate of 6.80%, compounded monthly. If you invest $3,500 at the end of each month, how many months will it take for your account to grow to $700,000? Round UP to the nearest whole month.
| a. | 71 months | |
| b. | 135 months | |
| c. | 114 months | |
| d. | 95 months | |
| e. | 121 months |
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Fundamentals Of Corporate Finance
Authors: David W Blackwell, Robert Parrino, David S Kidwell
1st Edition
0471270563, 9780471270560
