Question
Number of years needed to accumulate a future amount For the following case, determine the number of years it will take for the initial
Number of years needed to accumulate a future amount For the following case, determine the number of years it will take for the initial deposit to grow to equal the future amount at the given interest rate. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Initial deposit Future amount $1,021 $1,900 Interest rate 5% The number of years for this investment, n, is years. (Round to two decimal places.)
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Principles Of Managerial Finance
Authors: Lawrence J. Gitman, Chad J. Zutter
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