Approximately how many years would it take for an investment to grow fivefold if it were invested at 9 percent compounded quarterly? Assume that you invest $1 today. If you invest $1 at 9 percent compounded quarterly, about how many years would it take for your investment to grow fivefold to $5? (Hint: Remember to convert your calculator solution to years.)
Approximately how many years would it take for an investment to grow fivefold if it were invested at 9 percent compounded quarterly? Assume that you invest $1 today. If you invest $1 at 9 percent compounded quarterly, about how many years would it take for your investment to grow fivefold to $5? (Hint: Remember to convert your calculator solution to years.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Approximately how many years would it take for an investment to grow
fivefold
if it were invested at
9
percent compounded
quarterly?
Assume that you invest
$1
today.If you invest
$1
at
9
percent compounded
quarterly,
about how many years would it take for your investment to grow
fivefold
to
$5?
(Hint:
Remember to convert your calculator solution to years.)Expert Solution
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