Mrs Smith invests R25 000,00 in an account earning 7,5% interest per year, compounded weekly. After a number of years, she receives double the amount she invested. Determine the period under consideration. Round your answer to the nearest year. [1] 1 years [2] 2 years [3] 9 years [4] 8 years
Mrs Smith invests R25 000,00 in an account earning 7,5% interest per year, compounded weekly. After a number of years, she receives double the amount she invested. Determine the period under consideration. Round your answer to the nearest year. [1] 1 years [2] 2 years [3] 9 years [4] 8 years
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 10PROB
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![Question 9
Mrs Smith invests R25 000,00 in an account earning 7,5% interest per year, compounded weekly. After
a number of years, she receives double the amount she invested. Determine the period under
consideration. Round your answer to the nearest year.
[1] 1 years
[2] 2 years
[3] 9 years
[4] 8 years](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd89f47dc-e781-43db-bc76-296f151552e2%2F30a8bdba-cba9-46f9-ac35-5d8ab552c96b%2F8b026a_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 9
Mrs Smith invests R25 000,00 in an account earning 7,5% interest per year, compounded weekly. After
a number of years, she receives double the amount she invested. Determine the period under
consideration. Round your answer to the nearest year.
[1] 1 years
[2] 2 years
[3] 9 years
[4] 8 years
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