menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Finance Applications and Theory Study Set 3
  4. Exam
    Exam 4: Time Value of Money 1: Analyzing Single Cash Flows
  5. Question
    How Many Years Will It Take $1 Million to Grow
Solved

How Many Years Will It Take $1 Million to Grow

Question 33

Question 33

Multiple Choice

How many years will it take $1 million to grow to $3 million with an annual interest rate of 7 percent?


A) 10.29 years
B) 14.52 years
C) 16.24 years
D) 33.33 years

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q28: What would be more valuable, receiving $1,895

Q29: If an average home in your town

Q30: Approximately what interest rate is needed to

Q31: What is the value in year 6

Q32: How many years (and months) will it

Q34: Assume you borrow $100 from a payday

Q35: What is the value in year 20

Q36: Consider a $2,000 deposit earning 6 percent

Q37: You invested $5,000 in the stock market

Q38: What annual rate of return is earned

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines