Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You unexpectedly earn $1,200. Instead of blowing through the money, you decide to invest it in a mutual fund which earns 4.0% compounded annually. You
You unexpectedly earn $1,200. Instead of blowing through the money, you decide to invest it in a mutual fund which earns 4.0% compounded annually. You would like to know how long you will need to keep the money invested for your investment to grow to $66,000. What would you need to enter in Excel to help you answer this question?
Group of answer choices
A) =NPER(4.0%, -1200, 66000)
B) =NPER(0.04, 0, -1200, 66000)
C) =NPER(4.0%, 0, 1200, 66000)
D) =NPV(0.04, -1200, 66000)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started