Question 150740: If you put 420,000 in a fund paying 6.5% compounded weekly. How long will it take to become a millionaire?
Answer by mangopeeler07(462)   (Show Source):
You can put this solution on YOUR website! 1,000,000-420,000=580,000-------------------money you need to gain
(.065)(420,000)=27,300----------------------6.5% of 420,000
580,000/27,300=21.2454----------------------Exact amount of weeks it would take to become a millionaire.
Answer:
Approximately 21 weeks
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