How long will she have to wait if the 1330 is the only


Susan Norman seeks your financial advice. She wants to know how long it will take for her to become a millionaire. She tells you that she has $1,330 today and wants to invest it in an aggressive stock portfolio. The historical return on this type of investment is 18% per year. How long will she have to wait if the $1,330 is the only amount she invests and she never withdraws from the market until she reaches her $1 million? (Assume no taxes on the earnings). What if the rate of return is only 14% annually? What if the rate of return is only 10% annually?

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