Question

Four years ago, Grant invested $9,800.00. Today, he has $15,800.00. If Grant earns the same annual rate implied from the past and current values of his invsetment, then in how many years from today does he expect to have exactly $65,400.00

Answer 1

Grant's investment grew at an annual rate of around 15.1%. Using this rate, it would take him approximately 10 years from today to have $65,400.00.