[Solved] Kunkle Company Wishes to Earn 20% Annually on Its Investments

Question 71
Multiple Choice

Kunkle Company wishes to earn 20% annually on its investments.If it makes an investment that equals or exceeds that rate,it considers it a success.Assume that it invests $2 million and gets $500,000 in return at the end of each year for X years.What is the minimum value of X for which it will consider the investment a success? Assume that it can't invest for fractional parts of a year.

A)4 years.
B)6 years.
C)7 years.
D)9 years.

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