Your grandfather likes to tell the story about how he started with 50 head of cattle on his ranch and grew the ranch to 1,000 head of cattle. He said "My plan was simple: grow the number of head of cattle at a rate of 10% per year."
Your grandfather reached his goal before he retired. How long did it take him?
A) 18.63 years
B) 31.43 years
C) 25.22 years
D) 47.65 years
Answer: B
Explanation: B) n = = = 31.43 years
MODE = END
INPUT ? 10 -50 0 1,000
KEY N I/Y PV PMT FV
CPT 31.43
Business
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