At age 25 james, thinking ahead deposits 2500 into a retirement account with an average annual interest rate of 11%. Find James age when his investment is worth 10 times his original value.

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asked Sep 25, 2017 184k views

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At age 25 james, thinking ahead deposits 2500 into a retirement account with an average annual interest rate of 11%. Find James age when his investment is

worth 10 times his original value.

Mathematics
middle-school

Valentin Kuzub asked

by Valentin Kuzub

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FV=PV*(1+r*n)
2500*10=2500*(1+0.11*n)
n≈82 (years)
82+25=107
James age is 107.

Alexander Roehnisch answered Oct 1, 2017

by Alexander Roehnisch

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