4) You invest $75,000 into an account and withdraw all funds from the account when it reaches $125,000. For full years that funds are in the account, the fund earns an effective annual compound interest rate of 3%, while for fractions of years that the funds are in the account, the fund earns an annual simple interest rate of 4%. Find how long it takes for the funds to be withdrawn.

4) You invest $75,000 into an account and withdraw all funds from the account when it reaches $125,000. For full years that funds are in the account, the fund earns an effective annual compound interest rate of 3%, while for fractions of years that the funds are in the account, the fund earns an annual simple interest rate of 4%. Find how long it takes for the funds to be withdrawn.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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