If the accumulated value of an investment that is growing at 3.38% compounded quarterly is $92,151.10, and the interest earned on this investment is $40,151.10, calculate the time period of this investment. 17 years months
If the accumulated value of an investment that is growing at 3.38% compounded quarterly is $92,151.10, and the interest earned on this investment is $40,151.10, calculate the time period of this investment. 17 years months
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
B14.
![Due In: 01:04:19
If the accumulated value of an investment
that is growing at 3.38% compounded
quarterly is $92,151.10, and the interest
earned on this investment is $40,151.10,
calculate the time period of this
investment.
Question 2 of 9
17 years
|||
SAVE
months
SUBMIT ASSIGNMENT](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F936039c2-2bd2-450e-9471-fd8498575389%2F3e89a46f-1f84-4acf-a22d-a58a894fda95%2Fiot8bns_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Due In: 01:04:19
If the accumulated value of an investment
that is growing at 3.38% compounded
quarterly is $92,151.10, and the interest
earned on this investment is $40,151.10,
calculate the time period of this
investment.
Question 2 of 9
17 years
|||
SAVE
months
SUBMIT ASSIGNMENT
![Question 3 of 9
A small telecommunications company
invested its 2010 net income of $413,000
in a savings account for 5 years and 2
months. Money was earning interest at a
rate of 4.65% compounded monthly.
a. Calculate the amount it would have in
this account at the end of the period.
Round to the nearest cent
b. Calculate the interest earned.
REI
SUMENE](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F936039c2-2bd2-450e-9471-fd8498575389%2F3e89a46f-1f84-4acf-a22d-a58a894fda95%2Fcxvruds_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 3 of 9
A small telecommunications company
invested its 2010 net income of $413,000
in a savings account for 5 years and 2
months. Money was earning interest at a
rate of 4.65% compounded monthly.
a. Calculate the amount it would have in
this account at the end of the period.
Round to the nearest cent
b. Calculate the interest earned.
REI
SUMENE
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