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.)
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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