Long-Term Investments This exercise is based on the following table, which lists interest rates on long-term investments (based on 10-year government bonds) in several countries in 2014.† Country U.S. Japan Yield 2.5% 0.5% Germany 1.0% Australia Brazil 3.5% 4.2% If you invest $10,400 in the United States, and the interest is compounded monthly, when, to the nearest month, will your investment be worth $20,000? 26 X months
Long-Term Investments This exercise is based on the following table, which lists interest rates on long-term investments (based on 10-year government bonds) in several countries in 2014.† Country U.S. Japan Yield 2.5% 0.5% Germany 1.0% Australia Brazil 3.5% 4.2% If you invest $10,400 in the United States, and the interest is compounded monthly, when, to the nearest month, will your investment be worth $20,000? 26 X months
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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Answer before this was 32 and that wasn't correct either
Transcribed Image Text:Long-Term Investments This exercise is based on the following table, which lists interest rates on long-term investments (based on 10-year government bonds) in several countries in 2014.+
Country U.S. Japan Germany Australia
Yield 2.5% 0.5%
1.0%
3.5%
Brazil
4.2%
If you invest $10,400 in the United States, and the interest is compounded monthly, when, to the nearest month, will your investment be worth $20,000?
X months
26
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