Calculating how long before the total funds are available
January 23rd, 2023
A new labor contract has been signed, my company has agreed to make a one-time contribution of Euros 1,000,000 to the construction of a new physical fitness facility for its employees. This amount will be placed in an account earning 2%. When the account grows to Euros 1,850,000, construction will commence. How long must the employees wait until construction of their new gym begins?