(Solving for n with non-annual periods) Approximately how many years would it take for an investment to grow fourfold if it were invested at 15 percent compounded weekly? Assume that you invest $1 today.

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
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(Solving for n with non-annual periods) Approximately how many years would it take for an investment to grow
fourfold if it were invested at 15 percent compounded weekly? Assume that you invest $1 today.
...
If you invest $1 at 15 percent compounded weekly, about how many years would it take for your investment to
grow fourfold to $4? (Hint: Remember to convert your calculator solution to years.)
years (Round to one decimal place.)
Transcribed Image Text:(Solving for n with non-annual periods) Approximately how many years would it take for an investment to grow fourfold if it were invested at 15 percent compounded weekly? Assume that you invest $1 today. ... If you invest $1 at 15 percent compounded weekly, about how many years would it take for your investment to grow fourfold to $4? (Hint: Remember to convert your calculator solution to years.) years (Round to one decimal place.)
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