A company deposits $70,000 in savings account today. The company intends to leave the money in the account until it grows to $125,000. If the account pays interest of 5% per year, how long will it take for savings account to have $125,000.
A company deposits $70,000 in savings account today. The company intends to leave the money in the account until it grows to $125,000. If the account pays interest of 5% per year, how long will it take for savings account to have $125,000.
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...
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2. A company deposits $70,000 in savings account today. The company intends to leave the money in the account until it grows to $125,000. If the account pays interest of 5% per year, how long will it take for savings account to have $125,000.
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