Question: How long will it take $2,000 to reach $5,000 when it grows at 10 percent per year?

How long will it take $2,000 to reach $5,000 when it grows at 10 percent per year?

Step by Step Solution

3.45 Rating (168 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

FV N PV 1 i N 5000 2000 1 010 N 110 N 5 2 the thousands ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

335-B-F-F-M (4046).docx

120 KBs Word File

Students Have Also Explored These Related Finance Questions!