Solved: When will the investment be worth 12m at 12 interest, Accounting Basics

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When will the investment be worth 12m at 12 interest

Question - You deposit $800K on February 25, 2011.

When will the investment be worth $1.2M at 12% interest compounded annually?

What if the interest were compounded daily with a standard conversion rate of 1 year = 360 days?

Why is the second date earlier?

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Accounting Basics: When will the investment be worth 12m at 12 interest

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