James heard about a good investment opportunity from his financial advisor, Bob. The interest rate for the
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James heard about a good investment opportunity from his financial advisor, Bob. The interest rate for the investment is astonishingly 12% monthly. However, James lost all the information needed including the amount of deposit he should make, the investment period, and future value. Fortunately, he still remembers part of the computation process that In(FV) was 375 and In(PV) was 352.
What is the investment period? Start from solving the PV equation for t.
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