Jimmy invests $16,000 in an account that pays 5.90% compounded quarterly. How long (in years and months)

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Jimmy invests $16,000 in an account that pays 5.90% compounded quarterly. How long (in years and months) will it take for his investment to reach $21,000?

___years and ___months

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Corporate Finance A Focused Approach

ISBN: 978-1305637108

6th edition

Authors: Michael C. Ehrhardt, Eugene F. Brigham

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Posted Date: Mar 21, 2024 03:57 PM

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Jimmy invests $16,000 in an account that pays 5.90% compounded quarterly. How long (in years and months)

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To determine how long it will take for Jimmys investment to reach 21000 we can use the formu... View the full answer

Corporate Finance A Focused Approach

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