Paul wants to accumulate $14,500 in order to make the down payment for a new condo. Today he can start investing $2,500 annually in an investment account that pays 10 percent interest compounded annually. How long would it take him to have enough money to make the down payment?
A. 3.50 years
B. 5.90 years
C. 6.10 years
D. 4.44 years
E. 7.60 years
Answer: D
You might also like to view...
Adapting and conducting business practices that protect the environment and human and animal rights is specifically a part of corporate social marketing
Indicate whether the statement is true or false
Explain several of the issues that marketers interested in green marketing should consider
What will be an ideal response?
Identify the journal entry used to record the payment of net pay to employees
a. Dr. Wages Payable; Cr. Wages Expense b. Dr. Wages Expense; Cr. Cash c. Dr. Cash; Cr. Wages Expense d. Dr. Wages Payable; Cr. Cash
Tangible resources include
A. human assets and intellectual capital, which can include the talent of the work force and the creativity and innovativeness of certain personnel. B. company culture and incentive system, which includes the norms of behavior and business principles. C. reputational assets, which can include the company's reputation for quality, service, and reliability as well as its reputation for fair dealings with suppliers. D. technological assets such as patents, copyrights, and innovation technologies. E. relationships such as alliances that provide access to technologies, specialized know-how, or geographic markets.