If interest is compounded at 20% per year, how long will it take for $50,000 to accumulate

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If interest is compounded at 20% per year, how long will it take for $50,000 to accumulate to $86,400?

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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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Question Posted: Dec 17, 2012 05:30 AM

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If interest is compounded at 20% per year, how long will it take for $50,000 to accumulate

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Answer 3 years Explanation Given principle P 50000 Rate of Interest R 20 Amount accum...View the full answer

Engineering economy

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