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Waiting period. Susan Norman seeks your financial advice. She wants to know how long it will take her to become a millionaire. She tells you
Waiting period. Susan Norman seeks your financial advice. She wants to know how long it will take her to become a millionaire. She tells you that
she has $ today and wants to invest it in an aggressive stock portfolio. The historical return on this type of investment is per year. How long
will she have to wait if the $ is the only amount she invests and she never withdraws from the market until she reaches her $ million? Assume
no taxes on the earnings. What if the rate of return is only annually? What if the rate of return is only annually?
How long will Susan have to wait to become a millionaire if she invests $ today at an annual rate of return of
years Round to two decimal places.
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