Question: 1 . We sometimes need to find how long it will take a sum of money ( or anything else ) to grow to some
We sometimes need to find how long it will take a sum of money or anything else to grow to some specified amount. Note that you should enter PV as a negative and FV as a positive.
a For example, if a companys sales grow at a rate of per year, how long will it take to double? Show your answer to decimals xxx years If you are unsure how to work this, return to this weeks practice problems.
You do not need any additional data to solve this problem. If you are in doubt here, go back to the lecture notes and practice problem where doubletripling is discussed. Read the notes!
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
