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borteleto borteleto
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Posts: 2477
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5 years ago
Your son is born today and you want to make him a millionaire by the time he is 50 years old. You deposit $10,700 in an investment account and want to know what annual interest rate must you earn in order to have the account value equal to $1,000,000 on your son's 50th birthday.
A) 17.8%
B) 12.4%
C) 9.5%
D) 6.2%
Textbook 
Foundations of Finance

Foundations of Finance


Edition: 9th
Authors:
Read 33 times
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wrote...
#1
5 years ago
 C
 
borteleto Author
wrote...
#2
5 years ago
My teacher is very rude and likes to speed his way through a lesson without letting the class ask questions. Thank you for helping me. You're a life saver Slight Smile
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