Calculate the time period of an investment in a mutual fund that matured to $68,493.24 yielding interest

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Calculate the time period of an investment in a mutual fund that matured to $68,493.24 yielding interest of $12,933.28 at 11.04% compounded monthly.

____ years ____months

Round up to the next whole month

Related Book For answer-question

Fundamentals of Investing

ISBN: 978-0133075359

12th edition

Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk

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Posted Date: Feb 24, 2023 01:49 AM

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Calculate the time period of an investment in a mutual fund that matured to $68,493.24 yielding interest

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To solve this problem we can use the formula for compound interest A P 1 rnnt where A is the final ... View the full answer

Fundamentals of Investing

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