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Reil [10]
3 years ago
9

Boretti has $400,000 in a stock fund. The fund pays a 10% return, compounded annually. If he does not make another deposit into

the account, how long will it take for the account to increase to $2 million?
Business
1 answer:
LenKa [72]3 years ago
6 0

Answer:

it will take 16.89 years for the account to increase to $2 million.

Explanation:

PV = $400,000

FV = $2,000,000

I/Y = 10%

Solving for N in:

FV = PV * (1 + I/Y)N

$2,000,000 = $400,000 * (1.10)N

5 = (1.10)N

N = 16.89 years

Therefore, it will take 16.89 years for the account to increase to $2 million.

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Answer:

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Explanation:

The adjusted reconciled checkbook balance will include:

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    + earned interest                                                  $42.33

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The right answer for the question that is being asked and shown above is that: "at the price consumers are willing to pay." An organization is ready to launch a new product. When working through its pricing strategy, the organization should set the price of the product <span>at the price consumers are willing to pay.</span>
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