Your client currently has $350,000 in an investment account. The return on the account has been 12.5% APR compounded annually. How many years will it take for the account (with no further deposits or withdrawals) to grow to $500,000?
Your client currently has $350,000 in an investment account. The return on the account has been 12.5% APR compounded annually. How many years will it take for the account (with no further deposits or withdrawals) to grow to $500,000?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 34P
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Your client currently has $350,000 in an investment account. The return on the account has been 12.5% APR compounded annually. How many years will it take for the account (with no further deposits or withdrawals) to grow to $500,000?
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