You can earn .47 percent per month at your bank. If you deposit $3,000, how long must you wait until your account has grown to $6,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of months

You can earn .47 percent per month at your bank. If you deposit $3,000, how long must you wait until your account has grown to $6,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of months

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 14P

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Question

You can earn .47 percent per month at your bank.
If you deposit $3,000, how long must you wait until your account has grown to $6,000?
(Do not round intermediate calculations and round your answer to 2 decimal places,
e.g., 32.16.)
Number of months

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