Question: How long does it take an account containing $8000 to be worth $15,000 if the money if the money is invested at 9% compounded monthly?
How long does it take an account containing $8000 to be worth $15,000 if the money if the money is invested at 9% compounded monthly? (A) What is the exponent of the future value function (C) How many years will it take for the money to be worth $15,000 (round to the nearest year)? (D) How , many months will have passed
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
