You have just inherited $200,000 and wisely decided to invest your money in a diversified portfolio with
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You have just inherited $200,000 and wisely decided to invest your money in a diversified portfolio with your investment firm. Your financial advisor tells you that you can earn an average of 8% interest per year on your investment. You tell your advisor that you want to retire as soon as your account balance reaches $1,000,000. If you do not add or take money out of your account and interest does not fluctuate, how long, rounded to the nearest year, will it take before you have a $1,000,000 balance?
Related Book For
Employment Law For Business
ISBN: 978-0077347383
6th Edition
Authors: Dawn Bennett Alexander, Laura P Hartman
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