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Please answer both question 8,9 ASAP, much appreciated Q4. A 1997 article in The New York Times discussed how long it would take for Bill
Please answer both question 8,9 ASAP, much appreciated
Q4. A 1997 article in The New York Times discussed how long it would take for Bill Gates, the world's second richest person at the time (behind the Sultan of Brunei), to become the world's first trillionaire. His birthday is October 28, 1955, and on July 16, 1997, he was worth $42 billion. (Note: A trillion dollars is 1000 billion dollars.) 8) Assume that Bill Gates's fortune grows at an annual rate of 58%, the historical growth rate through 1997 of Microsoft stock, which made up most of his wealth in 1997. Find the age at which he becomes a trillionaire. (Hint: Use the formula for interest compounded annually.) A. 6.930287 B. 3.277231 C. 4.251433 D. 12.11524 Answer: 9) What rate of growth would be necessary for Bill Gates to become a trillionaire by the time on July 16, 2022, after he as turned 66? A. 0.135194 B. 0.048452 C. 0.078400 D. 0.125826Step by Step Solution
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