SOLUTION: Mr Dulane is planning to invest money to prepare for his retirement. He is going to invest $15,000. If he wants his investment to be worth at least $40,000 in 17 years, what will

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Question 610065: Mr Dulane is planning to invest money to prepare for his retirement. He is going to invest $15,000. If he wants his investment to be worth at least $40,000 in 17 years, what will the yearly rate of appreciation need to be
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+40000%2F17+=+2352.94+
and
+15000%2F17+=+882.35+
+2352.94+-+882.35+=+1470.59+
and
+1470.59+%2F+882.35+=+1.667+
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Note that if i had ( income with investment ) / ( income with no investment ) = 1
That would be zero appreciation
So, the appreciation is +.667+ = 66.67 %