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moreme moreme
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A year ago
Ten years ago Sandi made a commitment to accumulate $500,000 by investing $350 at the beginning of every month for as long as it takes. For the first 10 years she has been earning 13% compounded semiannually. She is now moving all of her money to a safer investment that will earn 9.6% compounded monthly. She is continuing to invest the $350 per month. How much more time will it take Sandi to reach $500,000?

▸ 17 years, 11 months

▸ 21 years, 1 month

▸ 8 years, 5 months

▸ 22 years, 7 months

▸ 15 years, 1 month
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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SirangelouSirangelou
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A year ago
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