Essentials of Corporate Finance
Essentials of Corporate Finance
8th Edition
ISBN: 9780078034756
Author: Stephen A. Ross, Randolph W. Westerfield, Bradford D. Jordan
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 4, Problem 9QP
Summary Introduction

To determine: The number of periods of investment.

Introduction:

The future value of money is the amount of dollars that an investment grows over a definite period at a particular rate of interest. The value increases based on the period of investment. The value of the investment will be higher if the duration of investment is longer.

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An investment that is worth $44,600 is expected to pay you $212,205 in X years and has an expected return of 18.05 percent per year. What is X?
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