You expect to receive $10,000 at graduation in two years. Youplan on investing it at...

You expect to receive $10,000 at graduation in two years. You plan on investing it at 6 percent until you have $104,000. How long will you wait from now?

40.19 years
42.19 years
47.25 years
46.41 years
38.19 years

Expert Solution

B) 42.19 years

Explanation.

Calculate the number of years using the financial calculator

Enter: i/y= 6%.

Pv= -10,000

Pmt= 0

Fv= 104,000

N= Calculate

We get that the number of years is 40.19 years

Total years = years of graduation + years of investment

= 2 + 40.19

= 42.19 years

jeff jeffy answered 2 years ago

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You expect to receive $10,000 at graduation in two years. Youplan on investing it at...

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