You have $7,500 and will invest the money at an interest rate of .26 percent per month until the account is worth $13,000. How many years do you have to wait until you reach your target account value? Multiple Choice 16.48 years 15.45 years 17.65 years 19.01 years 17.90 years

You have $7,500 and will invest the money at an interest rate of .26 percent per month until the account is worth $13,000. How many years do you have to wait until you reach your target account value? Multiple Choice 16.48 years 15.45 years 17.65 years 19.01 years 17.90 years

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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19.01 years
17.90 years

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