a. n = ln($1,000,000/$26,065.17) / ln (1.18) = 22 years
b. n = ln($1,000,000/$53,570.94) / ln (1.13) = 24 years
c. n = ln($1,000,000/$137,127.56) / ln (1.11) = 19 years
d. n = ln($1,000,000/$300,240.64) / ln (1.03) = 41 years
Waiting period. Jamal is waiting to be a millionaire. He wants to know how long he...
Waiting period. Jamal is waiting to be a millionaire. He wants to know how long he must wait if a. he invests $27,511.28 at 18% today? b. he invests $53,802.38 at 13% today? c. he invests $121.474.01 at 10% today? d. he invests $323,335.15 at 5% today? a. How long will Jamal have to wait to become a millionaire if he invests $27,511.28 at 18% today? 21.71 years (Round to the nearest whole number.) b. How long will Jamal have...
Waiting period. Jamal is waiting to be a millionaire. He wants to know how long he must wait if a. he invests $27,511.28 at 18% today? b. he invests $53,802.38 at 13% today? c. he invests $121,474.01 at 10% today? d. he invests $323,335.15 at 5% today? a. How long will Jamal have to wait to become a millionaire if he invests $27,511.28 at 18% today? 21.71 years (Round to the nearest whole number.) b. How long will Jamal have...
Waiting period. Jamal is waiting to be a millionaire. He wants to know how long he must wait if a. he invests $27,511.28 at 18% today? b. he invests $53,802.38 at 13% today? c. he invests $121,474.01 at 10% today? d. he invests $323,335.15 at 5% today? a. How long will Jamal have to wait to become a millionaire if he invests $27,511.28 at 18% today? | years (Round to the nearest whole number.)
Waiting period. Jamal is waiting to be a millionaire. He wants to know how long he must wait if a. he invests $25.947.68 at 18% today? b. he invests $49.449.44 at 13% today? C. he invests $151,683.62 at 11% today? d. he invests $302,109.37 at 6% today?
Waiting period. Jamal is waiting to be a millionaire. He wants to know how long he must wait if a. he invests $27,760.03 at 18% today? b. he invests $52,061.13 at 13% today? c. he invests $149,674.02 at 12% today? d. he invests $345,644.06 at 5% today?
Please answer all parts, Thanks! P3-24 (similar to) Waiting period. Jamal is waiting to be a millionaire. He wants to know how long he must wait if a. he invests $27,896.91 at 21% today? b, he invests $48,188.43 at 13% today? c, he invests $157,694.02 at 10% today? d. he invests $274,559.09 at 5% today? a. How long will Jamal have to wait to become a millionaire if he invests $27,896.91 at 21% today? years (Round to the nearest whole...
Jamal is waiting to be a millionaire. He wants to know how long he must wait if a. he invests $23,499.46 at 22% today? b. he invests $52,736.91 at 14% today? c. he invests $169,432.69 at 12% today? d. he invests $257,924.96 at 7% today?
Jamal is waiting to be a millionaire. He wants to know how long he must wait if a. he invests $25,513.03 at 22% today? b. he invests $49,279.29 at 14% today? c. he invests $178,456.81 at 8% today? d. he invests $333,940.92 at 6% today?
Future value (with changing years). Dixie Bank offers a certificate of deposit with an option to select your own investment period. Jonathan has $7,500 for his CD investment. If the bank is offering a 4.5% interest rate, compounded annually, how much will the CD be worth at maturity if Jonathan picks a a. two-year investment period? b. six-year investment period? c. ten-year investment period? d. fifteen-year investment period? a. How much will the $7,500 CD investment at 4.5% interest rate...
How long does it take to become a millionaire ? A $200,000 investment will hit $1 million in 38 years at an annual interest rate of 4.33%. How long will it take to become a millionaire if the annual interest rate increases to 5.16%? You can get to your goal in years when i=5.16%. (Round to the nearest whole number.)