Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you have just inherited $560,000. you plan to save

You have just inherited $560,000. You plan to save this money and continue to live...

60.1K

Verified Solution

Question

Finance

image
You have just inherited $560,000. You plan to save this money and continue to live off the money that you are earning in your current job. If you can invest the money in a bond that pays 4.50 percent interest annually, how long will it be before your inheritance is worth $1 million? (If you solve this problem with algebra round Intermediate calculations to 5 decimal places, In all cases round your final answer to a decimal places, es. 8.72.) Inheritance will be worth $1 million in years

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Mechanical Engineering
1.2K views

What are some of the general inspections to perform on a Hartzell propeller? What is propeller end-play...

Physics
1.2K views

Using academic language, describe the cause and effect relationship between:1) Frequency and wave speed when...

Geometry
1.2K views

is problem p is in dollars and x is the number of units demand function...

Geometry
1.2K views

Find the exact values for the six trigonometric functions of the angle 0 sin 8...

Geometry
1.2K views

Select the correct answer from each drop-down menu.Car Mod ...

Algebra
1.2K views

Find the vector equation of the line through the point (-4,7,-2) parallel to the vector...

Algebra
1.2K views

Ernesto is 71 years old His IRA has a fair market value of 352 850...

Algebra
1.2K views

552x 2y 16 x 6y 8 7 A 8 2 B 8 0 C Infinite...

Accounting
1.2K views

Iguana, Incorporated, manufactures bamboo picture frames that sell for $20 each. Each...

Accounting
1.2K views

Robert entertains several of his key clients on January 1 of the current year. Expenses...

Accounting
1.2K views

Sam owns all of the shares of X Ltd. Sofia owns all of the shares...

Accounting
1.2K views

The last six questions, 14 through 19, relate to an EDGAR case. In EDGAR, find...