An investment with an original value of $11 000 is sold for proceeds of $12 950.00. If the investment yield was 5% compounded semi-annually, for how many years was the money invested?
An investment with an original value of $11 000 is sold for proceeds of $12 950.00. If the investment yield was 5% compounded semi-annually, for how many years was the money invested?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 18E
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An investment with an original value of $11 000 is sold for proceeds of $12
950.00. If the investment yield was 5% compounded semi-annually, for how
many years was the money invested?
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