You have $10,000 available for investment in stock. You are looking for a growth stock whose value can grow to $35,000 over five years. Find the growth rate you are looking for? b) Find how long will it take to save $1 million if you invest $20,000 now at 6%?

You have $10,000 available for investment in stock. You are looking for a growth stock whose value can grow to $35,000 over five years. Find the growth rate you are looking for? b) Find how long will it take to save $1 million if you invest $20,000 now at 6%?

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter13: Capital, Interest, Entrepreneurship, And Corporate Finance

Section: Chapter Questions

Problem 11PAE

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a) You have $10,000 available for investment in stock. You are looking for a growth stock whose value can grow to $35,000 over five years. Find the growth rate you are looking for?

b) Find how long will it take to save $1 million if you invest $20,000 now at 6%?

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