You currently have $1,100 (Present Value) in an account that has an interest rate of 7.5%...
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You currently have $1,100 (Present Value) in an account that has an interest rate of 7.5% per year compounded monthly (12 times per year). You want to withdraw all your money when it reaches $1,870 (Future Value). In how many years will you be able to withdraw all your money? The number of years is Round your answer to 1 decimal place. You currently have $1,100 (Present Value) in an account that has an interest rate of 7.5% per year compounded monthly (12 times per year). You want to withdraw all your money when it reaches $1,870 (Future Value). In how many years will you be able to withdraw all your money? The number of years is Round your answer to 1 decimal place.
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