Answer:
38
Step-by-step explanation:
9.4 years would be the answer
Answer:


Step-by-step explanation:
For an effective annual rate j you have that the monthly interest rate can be related to it as:

Solving for i:
![i=\sqrt[12]{1+j} -1](https://tex.z-dn.net/?f=i%3D%5Csqrt%5B12%5D%7B1%2Bj%7D%20%20-1)
replacing j = 24% => i = 1,8087 %
So growth rate r would be:
