a-Nehisi has $25,800 in his savings account and wants this to accumulate to $100, or a condominium down payment. Suppose he plans to make deposits of $3,340 a beginning of every six months into this account which earns 5.18% compounded monthly. How long will it take to accumulate the $100,000? Select an answer
a-Nehisi has $25,800 in his savings account and wants this to accumulate to $100, or a condominium down payment. Suppose he plans to make deposits of $3,340 a beginning of every six months into this account which earns 5.18% compounded monthly. How long will it take to accumulate the $100,000? Select an answer
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Note:- only by using formulas not by excel and not handwritten also , answer pls by using the formula using bartleby tools to answer
Transcribed Image Text:Ta-Nehisi has $25,800 in his savings account and wants this to accumulate to $100,000
for a condominium down payment. Suppose he plans to make deposits of $3,340 at the
beginning of every six months into this account which earns 5.18% compounded
monthly. How long will it take to accumulate the $100,000?
Select an answer
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