Multiple Choice
You are considering investing in a developing-country 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 will it take for your account to grow to $250,000? Round fractional years up.
A) 23
B) 27
C) 32
D) 38
Correct Answer:
Verified
Correct Answer:
Verified
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