Mak is saving $275 per month. Current interest rates are 2.6% compounded quarterly. How long will it take Mak to save $15,000? 8 years 7 months 4 years 3 months 4 years 4 months 8 years 6 months
Mak is saving $275 per month. Current interest rates are 2.6% compounded quarterly. How long will it take Mak to save $15,000? 8 years 7 months 4 years 3 months 4 years 4 months 8 years 6 months
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 11E
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Mak is saving $275 per month. Current interest rates are 2.6% compounded quarterly. How long will it take Mak to save $15,000?
8 years 7 months
4 years 3 months
4 years 4 months
8 years 6 months
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