Number of months
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Considering investing in a bank account that pays a nominal annual rate of 6.7 percent, compounded monthly. If you invest$3,200 at the end of each month, how many months will it take for your account to grow to $150,000?
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Solution Summary
The solution explains how to calculate the number of months for an amount to grow to a desired value
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We are given the annuity amount, the future value of annuity and the rate and we are to ...
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