Jack and Ben each win K dollars prize at a contest. Jack invests her prize in a
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Jack and Ben each win K dollars prize at a contest. Jack invests her prize in a bank account that earns interest at a rate i^(2)= 12.49649%. Ben invests his prize in a bank account earning interests at a rate d^(n)=6%. It will take 2t years for the value of Ben's prize to reach the value of Jack's prize after t years. What is n?
a. 2
b. 3
c. 4
d. 6
e. 12
Related Book For
Corporate Finance A Focused Approach
ISBN: 978-1439078082
4th Edition
Authors: Michael C. Ehrhardt , Eugene F. Brigham
Posted Date: