Multiple Choice
You are considering an investment in a Third World bank account that pays a nominal annual rate of 18%,compounded monthly.If you invest $5,000 at the beginning of each month,how many months would it take for your account to grow to $450,000? Round fractional months up.
A) 47
B) 57
C) 67
D) 51
E) 70
Correct Answer:
Verified
Correct Answer:
Verified
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