Kathy has $50,000 to invest today and would like to determine whether it is realistic for her to achieve her goal of buying a home for $150,000 in 10 years with this investment. what return must she achieve in order to buy her home in 10 years?
a) about 12%
b) about 13%
c) about 9%
d) about 10%

a) About 12%

Step-by-step explanation:

We need to find the interest rate required to achieve her goal, so we will need to use the interest-compound formula:

Where:

PV= Present Value

i= interest rate

FV= Future Value

n= number of periods

replacing the data provided:

solving for i:

first, divide both sides by 50.000 to simplify the equation:

Take roots of both sides:

±

solve for i:

±

We get two answers, but we look for a coherent value. So we take the positive one:

≈12

idk the answer but just put a

step-by-step explanation:

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