Find the time required for $5000 to be equal to $14,000 when deposited at 4% compounded monthly. years (Round to three decimal places.)

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 6CE: Use Future Value and Present Value Tables to Apply Compound Interest to Accounting Transactions...
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Find the time required for $5000 to be equal to $14,000 when deposited at 4%
compounded monthly.
years (Round to three decimal places.)
Transcribed Image Text:Find the time required for $5000 to be equal to $14,000 when deposited at 4% compounded monthly. years (Round to three decimal places.)
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