Question
You decide you want your child to be a millionaire. You have a son today and you deposited $14,000 in an investment account that earns
You decide you want your child to be a millionaire. You have a son today and you deposited $14,000 in an investment account that earns 8.41% per year. They money in the account will be distributed to your son whenever the total reaches $1,000,000. How old will your son be when he gets the money (rounded to the nearest year?)
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
