Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 2P
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How long will it take $2,000 to grow to $22,000 if it is invested at 4% compounded monthly?
years (Round to the nearest tenth of a year.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb631efbd-d5d4-4e84-aa97-49a5565765b2%2F32f7dd84-3142-4358-9388-d0cef4b6681b%2Fypx4l1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:K
How long will it take $2,000 to grow to $22,000 if it is invested at 4% compounded monthly?
years (Round to the nearest tenth of a year.)
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