ow long will it take an investment of $2,500 to grow three times in value to $7,500? Assume that the interest rate is 6 percent per year compounded annually. A. 11.9 years. B. 18.9years. C. 21.3years
ow long will it take an investment of $2,500 to grow three times in value to $7,500? Assume that the interest rate is 6 percent per year compounded annually. A. 11.9 years. B. 18.9years. C. 21.3years
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 1P
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How long will it take an investment of $2,500 to grow three times in value to $7,500? Assume that the interest rate is 6 percent per year compounded annually.
A. 11.9 years.
B. 18.9years.C. 21.3years
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