Question
Romeo Cruz has been offered the opportunity of investing $36,106 now. The investment will earn 6% per year and at the end of that time
Romeo Cruz has been offered the opportunity of investing $36,106 now. The investment will earn 6% per year and at the end of that time will return Romeo $61,000. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How many years must Romeo wait to receive $61,000? (Hint: Use Table 3.) (Round answer to 0 decimal places, e.g. 25.)
Romeo must wait | years |
Also, I don't think the answer is a solid number like 5 years, when I had a similar question like this and I put a solid number I got it wrong.
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