An investment of $30,000 is made. How long will it take to grow to $45,000 if the interest is a nominal 6.5% per annum and interest is calculated and compounded monthly.
An investment of $30,000 is made. How long will it take to grow to $45,000 if the interest is a nominal 6.5% per annum and interest is calculated and compounded monthly.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 29P
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