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How many years (and months) will it take $2 million to grow to $6.00 million with an annual interest rate of 9 percent? (Do not round intermediate calculations. Round "months" to 1 decimal place.)

How many years (and months) will it take $2 million to grow to $6.00 million with an annual interest rate of 9 percent? (Do not round intermediate calculations. Round "months" to 1 decimal place.)

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Problem 4-31 Solving for Time (LG4-8) How many years (and months) will it take $2 million to grow to $6.00 million with an annual interest rate of 9 percent? (Do not round intermediate calculations. Round "months" to 1 decimal place.) Period years months
Transcribed Image Text:Problem 4-31 Solving for Time (LG4-8) How many years (and months) will it take $2 million to grow to $6.00 million with an annual interest rate of 9 percent? (Do not round intermediate calculations. Round "months" to 1 decimal place.) Period years months
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