February 24, 2017

Homework Help: finance

Posted by tiff on Friday, October 23, 2009 at 10:49pm.

Today, Mark invested $5,000 into an account that guarantees 7.50% p.a., compounded monthly and Madonna invested $5,000 into account guaranteeing 8.125% p.a., compounded quarterly.

How long will it take (in years) for the value of Madonna's investment to be three times as much as Mark's?

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