Your mother just received a $340 comma 461 inheritance. If she invests her money in a diversified equity portfolio returning 8 percent per year, approximately how long will it take her to become a millionaire?

time period is 14.17 years

Explanation:

given data

principal P =  $340,461

future value FV  = $1000000

rate r = 8%  = 0.08

to find out

time period t

solution

we will apply here future value formula that is

future value = principal ×   ..........................1

put here value and we get

$1000000  = $340,461  ×  

2.9371 =

take ln both side

ln 2.9371 = t ln(1.08)

1.077 = t × 0.076

t = 14.17

so time period is 14.17 years

b. a single paragraph.

a paragraph is a series of sentences that are organized and make sense, and are all related to a single topic . almost every piece of writing you do that is longer than a few sentences should be organized into paragraphs. this is because paragraphs show a reader where the subdivisions of an essay begin and end, and thus the reader see the organization of the essay into subjects in order to be able to understand its main points.