How Long Will It Take $4,000 to Grow to $7,500

question 47

Short Answer

How long will it take $4,000 to grow to $7,500 if the investment earns interest at the rate of 15% / year compounded monthly? Round your answer to the nearest tenth.
__________ year(s)

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Definitions:

Par-Common Stock

The face value of a share of common stock as designated in the corporate charter.

Paid-In Capital

Money that investors have given to a corporation in exchange for equity, representing the capital contribution from shareholders when issuing and selling shares.

Common Stock

A type of security that represents ownership in a corporation, with holders typically having voting rights and receiving dividends.

Organizational Expenses

Costs related to the formation of a corporation, partnership, or other enterprise, such as legal fees and state incorporation fees.