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How long in years will a certain sum of money to doubles its amount when deposited at a rate of 8% compounded bi-monthly? O 8.72 yrs O 6.72 yrs O 7.72 yrs O 9.72 yrs

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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How long in years will a certain sum of money to doubles its amount when deposited at a rate of 8% compounded bi-monthly?
8.72 yrs
6.72 yrs
O 7.72 yrs
O 9.72 yrs

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