Business, 04.07.2020 14:01 kimlyn58p0wyn0
You are considering investing in an Emerging Market bank account that pays a nominal annual rate of 18% on dollar deposits, compounded monthly (i. e the account pays [0.18/12]% per month). If you invest $5,000 at the beginning of each month, how many months will it take for your account to grow to $250,000? Round fractional months up.
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