Answered: A client at Southern Trust just made a…

A client at Southern Trust just made a deposit of $1,000 into an account expected to earn an effective annual return of 9.5%. How long will it take for that deposit to grow in value to $3,000?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...

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A client at Southern Trust just made a deposit of $1,000 into an account expected to earn an effective annual return of 9.5%. How long will it take for that deposit to grow in value to $3,000?

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