A recent advertisement in the financial section of a magazine carried the following claim: "Invest your money with us at 14 percent, compounded annually, and we guarantee to double your money sooner than you imagine"
Ignoring taxes, how long would it take to double your money at a nominal rate of 14 percent, compounded annually?
A) 3.66 years
B) 5.29 years
C) 7.00 years
D) 10.24 years
E) 14.00 years
B
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Which of the following is the correct formula for cell B5 to calculate the earnings per share?
a) =B2-B3*B2/B4
b) =(B2-B3)/B4
c) =B2*(1-B3)/B4
d) =(B2+B3*B2)/B4
e) =B2*(1+B3)/B4
Net income results in a(n)
a. increase in stockholders' equity. b. increase in revenues. c. decrease in expenses. d. decrease in liabilities.
Under the perpetual inventory system, the return of goods from a customer is recorded with a debit to Sales Returns and Allowances
Indicate whether the statement is true or false
Activity-based costing and generally accepted accounting principles differ in that ABC
a. does not define product costs in the same manner as GAAP. b. cannot be used to compute an income statement, but GAAP can. c. is concerned only with costs generated from automated processes, but GAAP is concerned with costs generated from both manual and automated processes. d. information is useful only to managers, while GAAP information is useful to all organizational stakeholders.