Assume that you win a $150,000 cash sweepstakes today. You decide to deposit this cash in an account earning 8% annual interest, and you plan to quit your job when the account equals $555,000. How many years will it be before you can quit working?
Assume that you win a $150,000 cash sweepstakes today. You decide to deposit this cash in an account earning 8% annual interest, and you plan to quit your job when the account equals $555,000. How many years will it be before you can quit working?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Assume that you win a $150,000 cash sweepstakes today. You decide to deposit this cash in an account
earning 8% annual interest, and you plan to quit your job when the account equals $555,000. How many
years will it be before you can quit working?
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