Question
You currently have $8,200 (Present Value) in an account that has an interest rate of 3% per year compounded semi-annually (2 times per year). You
You currently have $8,200 (Present Value) in an account that has an interest rate of 3% per year compounded semi-annually (2 times per year). You want to withdraw all your money when it reaches $16,400 (Future Value). In how many years will you be able to withdraw all your money?
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European Financial Reporting Adapting To A Changing World
Authors: J. Flower
2nd Edition
0333685180, 9780333685181
