You expect to receive a payout from a trust fund in 3 years. The payout will be for $11,000. You plan to invest the money at an annual rate of 6.5 percent until the account is worth $19,000. How many years do you have to wait from today?
You expect to receive a payout from a trust fund in 3 years. The payout will be for $11,000. You plan to invest the money at an annual rate of 6.5 percent until the account is worth $19,000. How many years do you have to wait from today?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 11E
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You expect to receive a payout from a trust fund in 3 years. The payout will be for $11,000. You plan to invest the money at an annual rate of 6.5 percent until the account is worth $19,000. How many years do you have to wait from today?
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