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samualson samualson
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5 years ago
You decide you want your child to be a millionaire. You have a son today and you deposit $10,000 in an investment account that earns 7% per year. The money in the account will be distributed to your son whenever the total reaches $1,500,000. How old will your son be when he gets the money (rounded to the nearest year)?
A) 82 years
B) 74 years
C) 60 years
D) 49 years
Textbook 
Foundations of Finance

Foundations of Finance


Edition: 9th
Authors:
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DeanaRayDeanaRay
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samualson Author
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#2
5 years ago
Electric Light Bulb Correct, thanks!
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