A security that costs $89.90 will provide a return of 6.5 percent per year. If you want to keep the investment until it grows to a value of $143.8, how long will you have to keep it? (Hint: use log() function to solve for the number of years you have to keep it, and round the answe to the nearest whole number.)
A security that costs $89.90 will provide a return of 6.5 percent per year. If you want to keep the investment until it grows to a value of $143.8, how long will you have to keep it? (Hint: use log() function to solve for the number of years you have to keep it, and round the answe to the nearest whole number.)
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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Transcribed Image Text:A security that costs $89.90 will provide a return of 6.5 percent per year. If you want to keep the
investment until it grows to a value of $143.8, how long will you have to keep it?
(Hint: use log() function to solve for the number of years you have to keep it, and round the answer
to the nearest whole number.)
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