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What minimum value of x for which kunkie will consider

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Problem 1: Kunkie Company wishes to earn 20% annually on its investments. If Kunkie makes an investment that equals or exceeds that rate, it considers if a success. Assume that Kunkie 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 (number of years) for which Kunkie will consider the investment a success? Assume that Kunkie can't invest for fractional parts of the year?

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

Reference no: EM133003669

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