Silas is about to begin regular month-end contributions of $500 to a bond fund. The fund's long-term rate of return is expected to be 6% compounded semi-annually. Rounded to the next higher month, how long will it take Silas to accumulate $300,000?

Question

Quizplus · Accepted Answer

The Answer of Silas is about to begin regular month-end contributions of $500 to a bond fund. The fund's long-term rate of return is expected to be 6% compounded semi-annually. Rounded to the next higher month, how long will it take Silas to accumulate $300,000?

Silas Is About to Begin Regular Month-End Contributions of $500