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
Related questions
Question
How long will it take to triple our investment if we can earn an 8.5% annual return?
12.8 years |
||
13.5 years |
||
10.6 years |
||
11.9 years |
Expert Solution
Step 1
Annual Rate:
It is the rate for the complete year charged on a loan amount or utilized for computing the present or future value of any amount.
Information Provided:
Annual rate = 8.5%
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