How long will, it take for a $5000 investment to grow to $6500 at an annual rate of 7%, compounded semiannually? Assume that no withdrawals are made. Do not round any intermediate computations, and round your answer to the nearest hundredth. If necessary, refer to the list of financial formulas. Ilyears
How long will, it take for a $5000 investment to grow to $6500 at an annual rate of 7%, compounded semiannually? Assume that no withdrawals are made. Do not round any intermediate computations, and round your answer to the nearest hundredth. If necessary, refer to the list of financial formulas. Ilyears
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
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Transcribed Image Text:How long will it take for a $5000 investment to grow to $6500 at an annual rate of 7%, compounded semiannually? Assume that no withdrawals are made. Do
not round any intermediate computations, and round your answer to the nearest hundredth.
If necessary, refer to the list of financial formulas.
years
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