Suppose that $2000 is placed in a savings account at an annual rate of 5.4%, compounded quarterly. Assuming that no withdranals are mede, hew ong t take for the account to grow to $3000? Do not round any intermediate computations, and round your answer to the nearest hundredth If necessary, refer to the list of financial formulas

Suppose that $2000 is placed in a savings account at an annual rate of 5.4%, compounded quarterly. Assuming that no withdranals are mede, hew ong t take for the account to grow to $3000? Do not round any intermediate computations, and round your answer to the nearest hundredth If necessary, refer to the list of financial formulas

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 31P

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