Concept explainers
Financial Planner One part of the job of a financial planner is to help people invest their money appropriately. If a customer knows he or she will need a certain amount of money in 10 or 20 years the financial planner can help the customer plan how much needs to be invested today and and at what rate in order to have that amount When a principal P earns an annual interest rate r compounded yearly the amount A after t years is
How long will it take $1500 to grow to $5000 at 8% compounded annually?
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