Question: Please solve and show formula using Excel Spreadsheet. (Solving for n with non-annual periods) Approximately how many years would it take for an investment to

Please solve and show formula using Excel Spreadsheet.

(Solving for n with non-annual periods) Approximately how many years would it take for an investment to grow fivefold if it were invested at 14 percent compounded monthly? Assume that you invest $1 today. If you invest $1 at 14 percent compounded monthly, about how many years would it take for your investment to grow fivefold to $5 ? (Hint: Remember to convert your calculator solution to years.) years (Round to one decimal place.)

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