Business, 10.10.2019 19:00 maustin5323
You decide you want to be a millionaire. you deposit $50,000 in an investment account that earns 9% per year. the money in the account will be distributed to you whenever the total reaches $1,000,000. if you are 27 now, how old will you be when you get the money (rounded to the nearest year)?
(hint: to know how old you will be, you need to know for how long your money should be invested in)
(a) 49 years
(b) 53 years
(c) 62 years
(d) 66 years
Answers: 1
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