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Robert Finley wishes to become a millionaire. His money market fund has a balance of $111,780 and has a guaranteed interest rate of 10%. How many years must Robert leave that balance in the fund in order to get his desired $752,000? (Round answer to O decimal places, e.g. 45.) 9 years

Robert Finley wishes to become a millionaire. His money market fund has a balance of $111,780 and has a guaranteed interest rate of 10%. How many years must Robert leave that balance in the fund in order to get his desired $752,000? (Round answer to O decimal places, e.g. 45.) 9 years

Essentials Of Investments
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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correct answer pleaseee (a) * Your answer is incorrect. Robert Finley wishes to become a millionaire. His money market fund has a balance of $111,780 and has a guaranteed interest rate of 10%. How many years must Robert leave that balance in the fund in order to get his desired $752,000? (Round answer to O decimal places, e.g. 45.) 9 years
Transcribed Image Text:correct answer pleaseee (a) * Your answer is incorrect. Robert Finley wishes to become a millionaire. His money market fund has a balance of $111,780 and has a guaranteed interest rate of 10%. How many years must Robert leave that balance in the fund in order to get his desired $752,000? (Round answer to O decimal places, e.g. 45.) 9 years
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