QUESTION 28 At 12% annual interest, how long would it take to quintuple (five times) your investment? (hint: imagine PV=100, and FV=500) 15 years 13 years 14 years 12 years
QUESTION 28 At 12% annual interest, how long would it take to quintuple (five times) your investment? (hint: imagine PV=100, and FV=500) 15 years 13 years 14 years 12 years
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![QUESTION 28
At 12% annual interest, how long would it take to quintuple (five times) your investment? (hint imagine PV=100, and FV=500)
O 15 years
O 13 years
O 14 years
O
12 years
QUESTION 29
What is the nominal annual rate (APR) if a bank charges you a 9 percent actual rate (EAR-9%) compounded weekly (52 weeks a year)? (hint: use nominal function in excel to get APR)
O 8.65%
8.62%
O 8.71%
8.84%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8c9bd05f-6074-441f-9db3-22fefc0ae245%2F4f9330ba-ec74-40e3-9f72-f027257e643d%2Flltzd9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:QUESTION 28
At 12% annual interest, how long would it take to quintuple (five times) your investment? (hint imagine PV=100, and FV=500)
O 15 years
O 13 years
O 14 years
O
12 years
QUESTION 29
What is the nominal annual rate (APR) if a bank charges you a 9 percent actual rate (EAR-9%) compounded weekly (52 weeks a year)? (hint: use nominal function in excel to get APR)
O 8.65%
8.62%
O 8.71%
8.84%
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