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Waiting period.  Jamal is waiting to be a millionaire. He wants to know how long he...

Waiting period.  Jamal is waiting to be a millionaire. He wants to know how long he must wait if a. he invests ​$27,487.32 at 19​% ​today? b.  he invests ​$47,738.96 at 13​% ​today? c. he invests ​$155,465.54 at 8​% ​today? d. he invests ​$334,550.32 at 6​% ​today? a.  How long will Jamal have to wait to become a millionaire if he invests ​$27,487.32 at 19​% ​today? nothing years  ​(Round to the nearest whole​ number.)

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Answer #1

Using NPER funcion in excel:

Particulars Investment Period
a 27,487.32                      21
b 47,738.96                      25
c 1,55,465.54                      24
d 3,34,550.32                      19

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