Question
Five years ago, Phil invested $13,600.00. Today, he has $25,200.00. If Phil earns the same annual rate implied from the past and current values of
Five years ago, Phil invested $13,600.00. Today, he has $25,200.00. If Phil earns the same annual rate implied from the past and current values of his investment, then in how many years from today does he expect to have exactly $235,000.00
- 7.62 years
- 23.10 years
- 20.26 years
- 18.10 years
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Accounting What the Numbers Mean
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,
9th Edition
978-0-07-76261, 0-07-762611-7, 9780078025297, 978-0073527062
