**Investment Growth Problems** An investment grows at 10% per year. a) Starting with $1,000, how much would you have after 5 years? b) How much would you need to start with to have $10,000 in ten years? c) Starting with $50,000, how long would it take to become a millionaire? [Show Your Work]

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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**Investment Growth Problems**

An investment grows at 10% per year.

a) Starting with $1,000, how much would you have after 5 years?

b) How much would you need to start with to have $10,000 in ten years?

c) Starting with $50,000, how long would it take to become a millionaire?

[Show Your Work]
Transcribed Image Text:**Investment Growth Problems** An investment grows at 10% per year. a) Starting with $1,000, how much would you have after 5 years? b) How much would you need to start with to have $10,000 in ten years? c) Starting with $50,000, how long would it take to become a millionaire? [Show Your Work]
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