Problem 4.23 – How long must you wait?

Essentials of Corporate Finance

Ross, Westerfield, and Jordan

10th Edition and 11th Edition

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Given the rate of return you can earn per month and given an initial deposit amount, they ask you to determine who many months it will take your account to grow to a larger value.

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  • Search Terms: has your $,, $,? $,? you (do . ..) account and answer at bank. calculating calculations can decimal deposit e.g., earn grown has how if intermediate long month months must not number of per percent periods places, round the to until wait you your
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