Homework answers / question archive / How long will it take for a $5000 investment to grow to $7000 at an annual rate of 9%, compounded monthly? Assume that no withdrawals are made

How long will it take for a $5000 investment to grow to $7000 at an annual rate of 9%, compounded monthly? Assume that no withdrawals are made

Finance

Share With

How long will it take for a $5000 investment to grow to $7000 at an annual rate of 9%, compounded monthly? Assume that no withdrawals are made.

Do not round any intermediate computations, and round your answer to the nearest hundredth.