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Cicely invests $3000 in an account paying an effective annual rate of interest of 6.4%. Two years later, she deposits an additional $1300 into the account. If there are no other transactions, at what time after the first investment will her account balance reach $10000? (Assume that the account earns simple interest between compoundings.)

Answer = years and days. Note: Your answer for the number of years should be a whole number, while your answer for the number of days should be given to at least 3 decimal places.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92823470

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