You have Tk. 90,000 saved today and want to purchase a new bike when your money grows to Tk. 250,000. If you can earn 8 percent on your investments, how long do you have to wait to buy your bike ?

You have Tk. 90,000 saved today and want to purchase a new bike when your money grows to Tk. 250,000. If you can earn 8 percent on your investments, how long do you have to wait to buy your bike ?

A 25.22 years

B 12.18 years

C 15.27 years

D None

Solution

Correct Answer: Option D