Three years ago, Robert invested $13,600.00. Today, he has $16,200.00. If Robert earns the same annual rate
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Question:
Three years ago, Robert invested $13,600.00. Today, he has $16,200.00. If Robert earns the same annual rate implied from the past and current values of his investment, then in how many years from today does he expect to have exactly $24,800.00
16.65 years (plus or minus 0.05 years)
9.54 years (plus or minus 0.05 years)
10.30 years (plus or minus 0.05 years)
7.30 years (plus or minus 0.05 years)
None of the above is within .05 percentage points of the correct answer
Expert Answer:
Answer Solution i Invested 3 years ago 13600 ii Today amount 16200 136001i3 16200 So 1I 1191... View the full answer
Related Book For 
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078025778
17th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Posted Date:
