Question
In order to cover upfront expenses, Pinecrest Enterprises must be able to come up with $50 million of its own capital reserves. Presently, Pinecrest has $37 million in capital reserves available, and can add $1.5 million per month .
After how many months will Pinecrest Enterprises meet the reserve requirement? Round up to the next month.
After how many months will Pinecrest Enterprises meet the reserve requirement? Round up to the next month.
Answers
Henry
37 + 1.5x = 50.
X = ?.
X = ?.