You plan to invest in securities that pay 8.6%, compounded annually. If you invest $5,000 today, how many years will it take for your investment to grow to $8,266.40?   a. 6.09 years     b. 5.59 years     c. 11.63 years     d. 11.94 years     e. 12.19 years

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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You plan to invest in securities that pay 8.6%, compounded annually. If you invest $5,000 today, how many years will it take for your investment to grow to $8,266.40?
  a. 6.09 years  
  b. 5.59 years  
  c. 11.63 years  
  d. 11.94 years  
  e. 12.19 years  
 
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