Question

calculate how long it would take
for gen z's average debt ($16,000)
to reach gen x's level of average
debt ($140,000) if it continued to
increase at its current rate (67.2%
per year).

Answer 1

Based on the current levels of average debt of Gen X, and the current rate of increase, it would take Gen Z about 4.22 YEARS to reach that amount.

How long would it take Gen Z debt to reach Gen X?

Using a spreadsheet, you can find out the number of periods it would take for Gen Z debt to reach Gen X debt through the NPER function.

Rate = 67.2%

Pmt = 0

PV = -16,000

FV = 140,000

The function would show a result of 4.22 years.

Find out more on Gen Z debt at https://brainly.com/question/27390758.

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