Share
Explore BrainMass

how to solve the problem below with a BA II calculator:

Need step by step explanations on how to solve the problem below with a BA II calculator:
Please show me how to solve. Thanks!

Problem: You are currently investing your money in a bank account which has a nominal annual rate of 9 percent, compounded monthly. If you invest $900 at the end of each month, how many months will it take for your account to grow to $301,066.27 (rounded to the nearest month)?

Solution Preview

Problem: You are currently investing your money in a bank account which has a nominal annual rate of 9 percent, compounded ...

Solution Summary

This solution is comprised of a detailed explanation to answer how to solve the problem below with a BA II calculator.

$2.19