At 89% annual interest compounded quarterly, how long will it take to become a millionaire if you invest your money worth $120,000? A 26.77 years B 27.55 years (c) 10.11 years 12.25 years

Brief Principles of Macroeconomics (MindTap Course List)
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ISBN:9781337091985
Author:N. Gregory Mankiw
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Chapter9: The Basic Tools Of Finance
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At 8% annual interest compounded quarterly, how long will it take to become a millionaire if you invest
your money worth $120,000?
A 26.77 years
B) 27.55 years
©) 10.11 years
D 12.25 years
Transcribed Image Text:At 8% annual interest compounded quarterly, how long will it take to become a millionaire if you invest your money worth $120,000? A 26.77 years B) 27.55 years ©) 10.11 years D 12.25 years
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