A capital investment firm placed $1.5 million 2 years ago to acquire part-ownership in an innovative chip making company. How long will it take from the date of their initial investment for their share of the chip company to be worth $3 million, if the company is realizing a 20% per year return?
Don't use plagiarized sources. Get Your Custom Essay on
Question & Answer: A capital investment firm placed $1.5 million 2 years ago to acquire part-ownership in an…..
GET AN ESSAY WRITTEN FOR YOU FROM AS LOW AS $13/PAGE
Assuming compounded return per year and 20% return per year. it will take 4 years from the date of original investment to become $ 3 million.