Business, 27.02.2020 02:46 ELIZABETH7777

The future value (F, in dollars) of P dollars invested today in the stock market is given by F=P(1+r)^t where r is the annual rate of interest earned by the investment (in percent) and t is the number of years the investment is allowed to grow. If I have $25,000 to invest today in a mutual fund that expects to earn 8% interest per year, how many years will it take for the fund to grow to $2,000,000?

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The future value (F, in dollars) of P dollars invested today in the stock market is given by F=P(1+r...

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