How many years will it take $2,000 invested at the end of each year to become $91,524 at a rate of return of 8%?
A)1
B)5
C)10
D)20
E)30

Name: How many years will it take $2,000 invested at the end of each year to become $91,524 at a rate of return of 8%? A)1 B)5 C)10 D)20 E)30
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Question

Quizplus · Accepted Answer

Using the future value of an annuity formula, it takes 20 years for $2,000 invested annually at an 8% return to grow to $91,524.

How Many Years Will It Take $2,000 Invested at the End