(Solving for n with non-annual periods) Approximately how many years would it take for an investment to grow sixfold if it were invested at 12 percent compounded quarterly? Assume that you invest $1 today. If you invest $1 at 12 percent compounded quarterly, about how many years would it take for your investment to grow sixfold to $6? (Hint: Remember to convert your calculator solution to years.)
(Solving for n with non-annual periods) Approximately how many years would it take for an investment to grow sixfold if it were invested at 12 percent compounded quarterly? Assume that you invest $1 today. If you invest $1 at 12 percent compounded quarterly, about how many years would it take for your investment to grow sixfold to $6? (Hint: Remember to convert your calculator solution to years.)
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 31P
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