Answered: 3) $4491 is deposited into a savings…

3) $4491 is deposited into a savings account at 4% interest, compounded quarterly. To the nearest year, how long will it take for the account balance to reach $1,000,000? etgso bns 7lgad0)mx3 sollas

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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3) $4491 is deposited into a savings account at 4% interest, compounded
quarterly. To the nearest year, how long will it take for the account
balance to reach $1,000,000? etgsdo ns A70iged0) mx3 sollas

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