How long will it take for P1,250,000 to grow to P1,630,000 if it is invested at 12% converted monthly?

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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FOLLOW THE FORMULAS GIVEN ABOVE
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16-
-1.
II. Formula: Finding Rate/Finding Time ¡=m
100
log
F
P
mlog(1+i)
3. How long will it take for P1,250,000 to grow to P1,630,000 if it is invested at 12% converted
monthly?
Transcribed Image Text:16- -1. II. Formula: Finding Rate/Finding Time ¡=m 100 log F P mlog(1+i) 3. How long will it take for P1,250,000 to grow to P1,630,000 if it is invested at 12% converted monthly?
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