Boretti has $400,000 in a stock fund. the fund pays a 10% return, compounded annually. if he does not make another deposit into the account, how long will it take for the account to increase to $2 million? (do not round intermediate calculations. round the final answer to two decimal places.)

It will take 16.89 years  for the account to increase to $2 million

Explanation:

Present Value = $400,000

Nominal annual interest rate =  10%  compounded annually

Future Value = $2,000,000

Number of compounding periods = ?

Formula:

Future Value = Present Value * (1+Nominal annual interest rate)∧Number of compounding periods

$2,000,000 = $400,000 * (1+0,1)∧Time

We can then proceed to solve the equation:

16.89

answer; i believe that the correct answer is (d); the business benefits because owners can share responsibilities;

i think the answer to your question is b. directive