Question: Waiting period. Susan Norman seeks your financial advice She wants to know how long it will take her to become a millionaire. She tells you

 Waiting period. Susan Norman seeks your financial advice She wants to

Waiting period. Susan Norman seeks your financial advice She wants to know how long it will take her to become a millionaire. She tells you that she has $1,329 today and wants to invest it in an aggressive stock portfolio. The historical return on this type of investment is 21% per year. How long will she have to wait if the $1,329 is the only amount she invests and she never withdraws from the market until she reaches her $1 million? (Assume no taxes on the earnings.) What if the rate of return is only 16% annually? What if the rate of retum is only 8% annually

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