FE: Suppose you have $100,000 in a mutual fund which is paying 9% per year. You want to save until you have $300,000 in the account and then pay cash for a house. How long will you have to wait, approximately? Question 12 options: 13 years 9 years

FE: Suppose you have $100,000 in a mutual fund which is paying 9% per year. You want to save until you have $300,000 in the account and then pay cash for a house. How long will you have to wait, approximately? Question 12 options: 13 years 9 years

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter19: The Basic Tools Of Finance

Section: Chapter Questions

Problem 1CQQ

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Question

FE: Suppose you have $100,000 in a mutual fund
which is paying 9% per year. You want to save
until you have $300,000 in the account and then
pay cash for a house. How long will you have to
wait, approximately?
Question 12 options:
13 years
9 years

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