The number of years required for an account to accumulate $650,000 if Ralph deposits $50,000 each year

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The number of years required for an account to accumulate $650,000 if Ralph deposits $50,000 each year and the account earns interest at a rate of 6% per year is closest to:

(a) 13 years

(b) 12 years

(d) 10 years

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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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Question Posted: Dec 17, 2012 05:35 AM

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The number of years required for an account to accumulate $650,000 if Ralph deposits $50,000 each year

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Given data future amount F 650000 interesti 6 per year let n number of years requ...View the full answer

Engineering economy

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