Earnest T needs $870 for his next trip to Raleigh. He has $540 in cash. How long in years will it take the $540 cash to grow to $870 if Earnest T earns 12.7% per annum on his cash, compounded quarterly? (Enter your answers in years to 2 decimal places, e.g., 12.34)
Earnest T needs $870 for his next trip to Raleigh. He has $540 in cash. How long in years will it take the $540 cash to grow to $870 if Earnest T earns 12.7% per annum on his cash, compounded quarterly? (Enter your answers in years to 2 decimal places, e.g., 12.34)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Earnest T needs $870 for his next trip to Raleigh. He has $540 in cash. How long in years will it take the $540 cash to grow to $870 if Earnest T earns 12.7% per annum on his cash, compounded quarterly? (Enter your answers in years to 2 decimal places, e.g., 12.34)
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