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## Susan Norman seeks your financial advice. She wants to know how long it will take her to become a millionaire. She tells you that she has ​\$1,675 today and wants to invest it in an aggressive stock portfolio. The historical return on this type of investment is 19​% per year. How long will she have to wait if the ​\$1,675 is the only amount she invests and she never withdraws from the market until she reaches her​ \$1 million? ​ (Assume no taxes on the​ earnings.) What if the rate of return is only 17​% ​annually? What if the rate of return is only 8​% ​annually? How long will Susan have to wait to become a millionaire if she invests ​\$1,675 today at an annual rate of return of 19​%?   nothing years ​ (Round to two decimal​ places.) How long will Susan have to wait to become a millionaire if she invests ​\$1,675 today at an annual rate of return of 17​%?   nothing years  ​(Round to two decimal​ places.) How long will Susan have to wait to become a millionaire if she invests ​\$1,675 today at an annual rate of return of 8​%?   nothing years  ​(Round to two decimal​ places.)

Waiting

period.

Susan Norman seeks your financial advice. She wants to know how long it will take her to become a millionaire. She tells you that she has

​\$1,675

today and wants to invest it in an aggressive stock portfolio. The historical return on this type of investment is

19​%

per year. How long will she have to wait if the

​\$1,675

is the only amount she invests and she never withdraws from the market until she reaches her​ \$1 million? ​ (Assume no taxes on the​ earnings.) What if the rate of return is only

17​%

​annually? What if the rate of return is only

8​%

​annually?

How long will Susan have to wait to become a millionaire if she invests

​\$1,675

today at an annual rate of return of

19​%?

nothing

years ​ (Round to two decimal​ places.)

How long will Susan have to wait to become a millionaire if she invests

​\$1,675

today at an annual rate of return of

17​%?

nothing

years  ​(Round to two decimal​ places.)

How long will Susan have to wait to become a millionaire if she invests

​\$1,675

today at an annual rate of return of

8​%?

nothing

years  ​(Round to two decimal​ places.)

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