Phillip decides to invest 800 000 in a period annuity that

Last updated: 1/27/2024

Phillip decides to invest 800 000 in a period annuity that earns 5 2 APR compounded monthly for a period of 20 years How long will it take Phillip to earn back his initial investment OA 11 5 years OB 10 5 years O C 12 4 years O D 11 years