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Kunkle Company wishes to earn 20% annually on its investments. If it makes an investment that equals or exceeds that rate, it considers it a
Kunkle Company wishes to earn 20% annually on its investments. If it makes an investment that equals
or exceeds that rate, it considers it a success. Assume that it invests $2 million and gets $500,000 in return
at the end of each year for x years. What is the minimum value of x for which it will consider the
investment a success? Assume that it can't invest for fractional parts of a year.
A. 4 years
B. 7 years
C. 9 years
D. 6 years
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