You plan to invest in bonds that pay 6.0%, compounded annually. If you invest $10,000 today, how many years will it take for your investment to grow to $45,000? a. 31 years b. 32 years c. 30 years d. 19 years e. 26 years Bob has $2,500 invested in a bank that pays 6.0% annually. How long will it take for his funds to double? a. 12.13 years b. 11.90 years c. 9.75 years d. 9.28 years e. 10.11 years Suppose you have $2,000 and plan to purchase a 10-year certificate of deposit (CD) that pays 12.3 % interest, compounded annually. How much will you have when the CD matures? a. $5,614.49 b. $7,847.52 c. $6,507.70 d. $6,380.10 e. $6,061.10
You plan to invest in bonds that pay 6.0%, compounded annually. If you invest $10,000 today, how many years will it take for your investment to grow to $45,000?
a. 31 years
b. 32 years
c. 30 years
d. 19 years
e. 26 years
Bob has $2,500 invested in a bank that pays 6.0% annually. How long will it take for his funds to double?
a. 12.13 years
b. 11.90 years
c. 9.75 years
d. 9.28 years
e. 10.11 years
Suppose you have $2,000 and plan to purchase a 10-year certificate of deposit (CD) that pays 12.3 % interest, compounded annually. How much will you have when the CD matures?
a. $5,614.49
b. $7,847.52
c. $6,507.70
d. $6,380.10
e. $6,061.10
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