Use the model 4 = Pe" or 4 = P(1) - where is the future value of P dollars invested at interest rater compounded continuously or n times per year for years. Victor puts aside $8000 in an account with interest compounded continuously at 2.5%. How long will it take for him to earn $20007 Round to the nearest month. It will take approximately years and months for him to earn $2000. 5

Use the model 4 = Pe" or 4 = P(1) - where is the future value of P dollars invested at interest rater compounded continuously or n times per year for years. Victor puts aside $8000 in an account with interest compounded continuously at 2.5%. How long will it take for him to earn $20007 Round to the nearest month. It will take approximately years and months for him to earn $2000. 5

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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