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You expect to receive $9,058 at graduation in two years. You plan on investing it at 13.4 percent until you have $67,914. How long must
You expect to receive $9,058 at graduation in two years. You plan on investing it at 13.4 percent until you have $67,914. How long must you wait from now to earn that amount?
(Round your answer to 2 decimal places. For example, 12.3456 should be entered as 12.35.)
Pay close attention to the wording in this question. You will not actually receive the money and invest it for 2 years. That fact affects your answer.
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