An investment with an original value of $11 000 is sold for proceeds of $12 950.00. If the investment yield was 5% compounded semi-annually, for how many years was the money invested?

Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter19: Capital Investment
Section: Chapter Questions
Problem 19E
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An investment with an original value of $11 000 is sold for proceeds of $12
950.00. If the investment yield was 5% compounded semi-annually, for how
many years was the money invested?

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