Blake Mohr has been offered the opportunity of investing $22,660.88 now. The investment will earn...
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Blake Mohr has been offered the opportunity of investing $22,660.88 now. The investment will earn 11% per year and at the end of that time will return Blake $88,000. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How many years must Blake wait to receive $88,000? (Hint: Use Table 3.) (Round answer to 0 decimal places, e.g. 25.)
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