How long (in years) will it take to quadruple it earns 0.07 compounded semiannually? Note: The given interest is already in decimal form. Do not round in between solution. Final answer round to the nearest whole number

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 3CE
icon
Related questions
Question

How long (in years) will it take to quadruple it earns 0.07 compounded semiannually?

 

Note: The given interest is already in decimal form. Do not round in between solution. Final answer round to the nearest whole number

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Future Value
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning