How long will it take a $85,900 investment to grow to $123,760 if money earns 3.51% compounded monthly? Use I/Y=3.51, P/Y=12, PMT=0. Input N in the Answer box; input years and months in the second box, rounding up to the next month. e.g. Answer: 6.78; units: 3 years 5 months Your Answer: Answer units
How long will it take a $85,900 investment to grow to $123,760 if money earns 3.51% compounded monthly? Use I/Y=3.51, P/Y=12, PMT=0. Input N in the Answer box; input years and months in the second box, rounding up to the next month. e.g. Answer: 6.78; units: 3 years 5 months Your Answer: Answer units
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
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Transcribed Image Text:How long will it take a $85,900 investment to grow to $123,760 if money earns
3.51% compounded monthly?
Use I/Y=3.51, P/Y=12, PMT=0.
Input N in the Answer box;
input years and months in the second box, rounding up to the next month.
e.g. Answer: 6.78; units: 3 years 5 months
Your Answer:
Answer
units
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