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Three years ago, Joseph invested $12,200.00. Today, he has $17,000.00. If Joseph earns the same annual rate implied from the past and current values of
Three years ago, Joseph invested $12,200.00. Today, he has $17,000.00. If Joseph earns the same annual rate implied from the past and current values of his invsetment, then in how many years from today does he expect to have exactly $36,500.00
8.55 years (plus or minus 0.05 years) | ||
7.60 years (plus or minus 0.05 years) | ||
9.91 years (plus or minus 0.05 years) | ||
6.91 years (plus or minus 0.05 years) | ||
None of the above is within .05 percentage points of the correct answer |
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