SOLUTION: Find the time required for an investment of 5000 dollars to grow to 6500 dollars at an interest rate of 4.4 percent per year, compounded monthly.

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Question 1181329: Find the time required for an investment of 5000 dollars to grow to 6500 dollars at an interest rate of 4.4 percent per year, compounded monthly.
Answer by ikleyn(52805) About Me  (Show Source):
You can put this solution on YOUR website!
.

Go to the lesson
    - Problems on discretely compound accounts
in this site.

Find the full theory and TWINS solved problems to yours.

Consider them as your TEMPLATES.

Having these templates in front of you, solve your problem in the same way.


After reading this lesson, you will tackle such problems on your own without asking for help from outside.