Question
3. Becky wants to have $1,000,000 when she retires. If she deposits $75,000 in the bank today and earns 8% compounded annually, how many years
3. Becky wants to have $1,000,000 when she retires. If she deposits $75,000 in the bank today and earns 8% compounded annually, how many years will it take her to reach her investment goals?
4. Given the same information in #3, Becky has learned about a new investment that will earn her 12% compounded annually instead of 8%. How many years will it take her to reach her investment goals?
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Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown
10th Edition
538482109, 1133711774, 538482389, 9780538482103, 9781133711773, 978-0538482387
