If bogut plans to establish the ab foundation once the fund, Accounting Basics

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If bogut plans to establish the ab foundation once the fund

Problem

Steve Bogut just received a signing bonus of $949,100. His plan is to invest this payment in a fund that will earn 11%, compounded annually. If Bogut plans to establish the AB Foundation once the fund grows to $3,685,621, how many years until he can establish the foundation?

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Accounting Basics: If bogut plans to establish the ab foundation once the fund

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Accounting Basics: If bogut plans to establish the ab foundation once the fund

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