Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You have $ 1 0 , 0 0 0 in your account that you want to grow to triple that amount in 3 0 years.

You have $10,000 in your account that you want to grow to triple that amount in 30 years. What annual rate of return is necessary to reach your goal? (Note: Enter your answer is a decimal, not a percentage. For example, enter. 0452 instead of 4.52%)
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance An Integrated Approach

Authors: Bernard J. Winger

4th Edition

0198520972, 9780132696302

More Books

Students also viewed these Finance questions

Question

Describe the linguistic approach to speech analytics. Discuss.

Answered: 1 week ago

Question

=+5. What is your impression of the Carbon Principles?

Answered: 1 week ago