You decide you want your child to be a millionaire. You have a son today and dep

Question

You decide you want your child to be a millionaire. You have a son today and deposit $10,000 in an investment that earns 7% per year. The money will be distributed to your son whenever the total reaches $1,500,000. How old will your son be when he gets the money (rounded to the nearest year) A) 60 years old B) 49 C) 74 D) 82 You decide you want your child to be a millionaire. You have a son today and deposit $10,000 in an investment that earns 7% per year. The money will be distributed to your son whenever the total reaches $1,500,000. How old will your son be when he gets the money (rounded to the nearest year) A) 60 years old B) 49 C) 74 D) 82 A) 60 years old B) 49 C) 74 D) 82

Explanation / Answer

Answer:-

c) 74 years

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