Case s ummary : The person B and person R filed a case against the company P, a cigarette manufacturer on the ground of deceptive advertisement. B and R claimed that “light cigarettes” were advertised as a safer option than regular cigarettes, but both have the same health effects. They argued that the company P hided the actual nature of light cigarettes. P also appealed that light cigarettes was authorized by the government. To find: The validity of the claim made by B and R.

Question

If an investment of $45,000 is earning an interest rate of 4.00%, compounded annually, then it will take for this investment to reach a value of $50,618.88 - assuming that no additional deposits or withdrawals are made during this time. A) 0.38 years B) 8.89 years C) 1.13 years D) 3.00 years

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Question

Chapter 24, Problem 4BCP

Summary Introduction

Case s ummary : The person B and person R filed a case against the company P, a cigarette manufacturer on the ground of deceptive advertisement. B and R claimed that “light cigarettes” were advertised as a safer option than regular cigarettes, but both have the same health effects. They argued that the company P hided the actual nature of light cigarettes. P also appealed that light cigarettes was authorized by the government.

To find: The validity of the claim made by B and R.

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If an investment of $45,000 is earning an interest rate of 4.00%, compounded annually, then it will take for this investment to reach a value of $50,618.88 - assuming that no additional deposits or withdrawals are made during this time. A) 0.38 years B) 8.89 years C) 1.13 years D) 3.00 years

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