Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Your friend plans to invest $1,000 per month into an account expected to have an effective annual rate (EAR) of 6.2%. If the first investment is made one month from today, how long (in years) will it take your friend to reach the goal of $100,000?
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