You are currently investing your money in a bank account which has a nominal annual rate of

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You are currently investing your money in a bank account which has a nominal annual rate of 8% compounded annually. If you invest $2,000 today, how many years will it take for your account to grow to $10,000?

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Engineering Economy

ISBN: 978-0132554909

15th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

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Question Posted: May 17, 2016 05:50 AM

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You are currently investing your money in a bank account which has a nominal annual rate of

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P 12 of deposits A FA 8 12 and P 13 P 12 FP 8 1 ...View the full answer

Engineering Economy

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