Earnest T needs $900 for his next trip to Raleigh. He has $660 in cash. How long in years will it take the $660 cash to grow to $900 if Earnest T earns 13.3% per annum on his cash, compounded quarterly? (Enter your answers in years to 2 decimal places, e.g., 12.34)
Earnest T needs $900 for his next trip to Raleigh. He has $660 in cash. How long in years will it take the $660 cash to grow to $900 if Earnest T earns 13.3% per annum on his cash, compounded quarterly? (Enter your answers in years to 2 decimal places, e.g., 12.34)
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 11E
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Earnest T needs $900 for his next trip to Raleigh. He has $660 in cash. How long in years will it take the $660 cash to grow to $900 if Earnest T earns 13.3% per annum on his cash, compounded quarterly? (Enter your answers in years to 2 decimal places, e.g., 12.34)
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