I need this question completed in 10 minutes 2An investment product offers a monthly rate of return of 4%. If Amy invests $1,000 today for this product, how long(in months) does it take for Amy's money to grow to $6,000?Select one alternative:O41.1 months36.1 monthsO 18 monthsO 45.7 months

The future value will be helpful for investors to take a decision as to whether to invest money in a…

An investment product offers a monthly rate of return of 4%. If Amy invests $1,000 today for this product, how lon (in months) does it take for Amy's money to grow to $6,000? Select one alternative: O41.1 months 36.1 months O 18 months 45.7 months

An investment product offers a monthly rate of return of 4%. If Amy invests $1,000 today for this product, how lon (in months) does it take for Amy's money to grow to $6,000? Select one alternative: O41.1 months 36.1 months O 18 months 45.7 months

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 11PROB

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I need this question completed in 10 minutes

2
An investment product offers a monthly rate of return of 4%. If Amy invests $1,000 today for this product, how long
(in months) does it take for Amy's money to grow to $6,000?
Select one alternative:
O41.1 months
36.1 months
O 18 months
O 45.7 months

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