If you have $60,000 in a bank account that is paying an interest rate of 4 percent that is being compounded annually, how many years will it take to double your investment if the interest rate stays the same?
If you have $60,000 in a bank account that is paying an interest rate of 4 percent that is being compounded annually, how many years will it take to double your investment if the interest rate stays the same?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 4QTD
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If you have $60,000 in a bank account that is paying an interest rate of 4 percent that is being compounded annually, how many years will it take to double your investment if the interest rate stays the same?
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