Multiple Choice
An investment of $7,500 at 8% compounded monthly is now worth $13,280. How long ago was the investment made?
A) 12 years, 9 months
B) 11 years, 2 months
C) 9 years, 9 months
D) 8 years, 6 months
E) 7 years, 2 months
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q237: 9.1% compounded annually is a better investment
Q238: Calculate nominal rate of interest (to the
Q239: Calculate the missing interest rate (to the
Q240: Lansky Finance Company was charging 1.87% per
Q241: Vitaly's shares of Dominion Petroleum have dropped
Q243: Twenty years ago the population of a
Q244: What is the monthly compounded nominal rate
Q245: Calculate the term of the loan or
Q246: The current (simple annualized) yield on a
Q247: A few years ago Avtar invested $6,000