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stranahan stranahan
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7 years ago
In your first year out of college you hope to earn $50,000 per year. How many years will you have to work until you earn $100,000 if your income increases at a rate of 10% per year? Use the Rule of 72 to determine your answer.
A) You would need to work for just over 5 years to reach an income level of $100,000 per year.
B) You would need to work for just over 8 years to reach an income level of $100,000 per year.
C) You would need to work for just over 6 years to reach an income level of $100,000 per year.
D) You would need to work for just over 7 years to reach an income level of $100,000 per year.
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Financial Management: Core Concepts

Financial Management: Core Concepts


Edition: 2nd
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SpoiledBeefSpoiledBeef
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7 years ago
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stranahan Author
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7 years ago
Thanks Smiling Face with Open Mouth and Tightly-closed Eyes
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