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Suppose that you have $1,000 to invest and you wish for this amount to grow to $5,000 and that you are able to earn a return on your money of 10% p.,...

Suppose that you have $1,000 to invest and you wish for this amount to grow to $5,000 and that you are able to earn a return on your money of 10% p.a., compounded quarterly. How long will it take you, in quarters, to reach your target of $5,000?

Do your calculations to four decimal places, with two decimal places for your final answer

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The time period is 16.29... View the full answer

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