You were given $672,292 as a bonus for a job well done! You want to invest...

 

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You were given $672,292 as a bonus for a job well done! You want to invest that money, and not touch it until it has grown to $1,000,000. If you believe you can earn 8.89% per year on your investment portfolio, how long will it take for your original investment of $672,292 to turn into $1,000,000? (Post your answer in years, with two decimal points- e.g. 8.45 for 8.45 years). You were given $672,292 as a bonus for a job well done! You want to invest that money, and not touch it until it has grown to $1,000,000. If you believe you can earn 8.89% per year on your investment portfolio, how long will it take for your original investment of $672,292 to turn into $1,000,000? (Post your answer in years, with two decimal points- e.g. 8.45 for 8.45 years).

Answer rating: 100% (QA)

Solution To calculate the time it will take for your initial investment of 672292 to grow to 1000000 ... View the full answer