Answers

2014-12-29T22:31:25+05:30
We have P = 420000
              r  = 6.5/(52*100 )
              A =1000000
let t be the time in weeks
We have A= P(1+r)^t
 ⇒  1000000 = 420000(1+6.5/5200)^t
 ⇒  50/21=(1+.00125)^t
⇒ 50/21=1.00125^t
⇒ t =  694 weeks
You have to wait 694weeks to become a millionaire.

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