Question
You expect to receive $30,000 when you graduate in two years. You plan to invest 9 percent until you have $165,000. Necessary: How long will
You expect to receive $30,000 when you graduate in two years. You plan to invest 9 percent until you have $165,000. |
Necessary: |
How long will you wait after that? (Enter the rounded answer as indicated, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (eg 32.16).) |
Period | year |
Step by Step Solution
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Step: 1
To calculate the time it will take to reach 165000 by investing 30000 at a 9 in...
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Step: 2
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Basic Finance An Introduction to Financial Institutions Investments and Management
Authors: Herbert B. Mayo
10th edition
1111820635, 978-1111820633
