How many years (and months) will it take $2 million to grow to $3.60 million with an annual interest rate of 9 percent? (Do not round Intermediate calculations. Round "months" to 1 decimal place.) Period years months

How many years (and months) will it take $2 million to grow to $3.60 million with an annual interest rate of 9 percent? (Do not round Intermediate calculations. Round "months" to 1 decimal place.) Period years months

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...

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How many years (and months) will it take $2 million to grow to $3.60 million with an annual interest rate of 9 percent? (Do not round
intermediate calculations. Round "months" to 1 decimal place.)
Period
years
months

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