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futurenurse15 futurenurse15
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8 months ago
For a long time Sally has been investing $7,000 at the end of every six months and today the value of her savings has reached $2,500,000. She has made wise investment decisions and has earned a return of 16.4% compounded semiannually. How long ago (rounded up to the nearest whole year) did she start this savings plan?

▸ 17 years

▸ 22 years

▸ 27 years

▸ 32 years

▸ 41 years
Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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desai.sumeet1desai.sumeet1
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8 months ago
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Anonymous
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2 months ago
Help! The answer is missing an explanation...
Anonymous
wrote...
2 months ago
hope that helps!
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