You expect to receive $33,000 at graduation in two years. You plan on investing it at 9.75 percent until you have $168,000. How long will you wait from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

You expect to receive $33,000 at graduation in two years. You plan on investing it at 9.75 percent until you have $168,000. How long will you wait from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 16P

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Question

You expect to receive $33,000 at graduation in two years. You plan on investing it at
9.75 percent until you have $168,000.
How long will you wait from now? (Do not round intermediate calculations and round
your answer to 2 decimal places, e.g., 32.16.)
X Answer is complete but not entirely correct.
Years to
wait
17.49 X

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