Question: WHY EVERT TIME I PUT THIS IN THE CALCULATOR, I GET 0.1481 7. Problem In an account Farrah Mosquera currently has $163,720.00. At a rate

WHY EVERT TIME I PUT THIS IN THE CALCULATOR, I GET 0.1481

7. Problem In an account Farrah Mosquera currently has $163,720.00. At a rate of 2.00% how long will it take for them to have S256,450.00 assuming tri-annually compounding? (Hint: compute the exact years, do not use rule of 70/72) (a) 22.66 years (b) 22.51 years (c) 67.54 years (d) 7.55 years Solution FV 256,450 163. 721/3)22.51 years 1 + 0.02

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