Your father spent all of his adult life working in a small T-shirt making firm. His first year of sales was $118,000 and his last year of sales was $450,000
If the firm grew at an average rate of 3.15% per year, how many years did your father sell T-shirts at his firm?
A) 43.16 years
B) 40.00 years
C) 31.68 years
D) 25.91 years
Answer: A
Explanation: A) n = = = 43.16 years
MODE = END
INPUT ? 3.15 -118,000 0 450,000
KEY N I/Y PV PMT FV
CPT 43.16
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