Phillip decides to invest 800 000 in a period annuity that earns 5 2 APR...

50.1K

Verified Solution

Question

Geometry

image

Phillip decides to invest 800 000 in a period annuity that earns 5 2 APR compounded monthly for a period of 20 years How long will it take Phillip to earn back his initial investment OA 11 5 years OB 10 5 years O C 12 4 years O D 11 years

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students