You just won $25,000 and deposited your winnings into an account that pays 5.9 percent interest,...
You just won $25,000 and deposited your winnings into an account that pays 5.9 percent interest, compounded annually. How long will you have to wait until your winnings are worth $75,000? 21.24 years 23.95 years 19.16 years 22.67 years 25.00 years
Homework Answers
Calculating Time Period,
Using TVM Calculation,
N = [PV = -25,000, FV = 75,000, PMT = 0, I = 0.059]
N = 19.16 years
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