A client seeking liquidity sets aside 35,000 in a bank account today. The account pays 5 percent

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A client seeking liquidity sets aside €35,000 in a bank account today. The account pays 5 percent compounded monthly. Because the client is concerned about the fact that deposit insurance covers the account for only up to €100,000, calculate how many months it will take to reach that amount.
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Quantitative Investment Analysis

ISBN: 978-1119104223

3rd edition

Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle

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