Question: How many years will it take $5,000 to double if it is placed in an account that earns 6% annually? A. 9 years B. 15

How many years will it take $5,000 to double if it is placed in an account that earns 6% annually?

A. 9 years

B. 15 years

C. 6 years

D. 12 years

What is the future value of a 5-yearannuity dueof $5,000 that earns 6% annually?

A. $28,185

B. $50,756

C. $33,234

D. $29,876

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

A nineteen-year-old woman returns home from an evening at the beach. She tells her mother that she has been raped and sodomized by an attacker she does not know. Some hours later, the woman...

Q:

4. The owner of Automohe Mart determines that she needs $2 million for retirement in 45 years {this gure is irrelevant of her selling the business or transferring ownership]. How much of her salary...

Q:

A. You are on the Board of Directors reviewing the performance of WestCoast Ski and Boards Inc. Analyze the following financial data of WestCoast for the 2019 and 2018 years to answer the following...

Q:

1) Lin borrowed $800 from his brother, Mati, to purchase an electric guitar. Lin paid $1,200 back to Mati at the end of 5 years. What was the average annual compound rate of interest on Lin's loan...

Q:

A. You are on the Board of Directors reviewing the performance of West Coast Ski and Boards Inc. Analyze the following financial data of West Coast for the 2019 and 2018 years to answer the following...

Q:

Balance Sheets Assets 2019 2018 Income Statements Cash Short-term investments Accounts receivable Inventories Total current assets 13.400 $ 10,852 30,000 41,000 634,800 602,026 1 319.852 1,348,620...

Q:

Using the formulas for the steady state levels of capital and output, compare the capital stock, , and output, , after the drop in the population . (10 points) c. Graph the level of output (y-axis)...

Q:

help please on the following, For each ton of a certain type of rice commodity, the four-year forward price is 300. A four-year 400-strike European call option costs 110. The continuously compounded...

Q:

Submit your answers using the Assignment #1 Online link in Moodle A You are on the Board of Directors reviewing the performance of WestCoast Ski and Boards Inc. Analyze the following financial data...

Q:

1.The accumulated value of an annuity will exactly double if the amount of time is exactly doubled, everything else equal. True False 2.At 5.95 percent compounded annually, how many years will it...

Q:

Suppose you invest $10,000 in a bank account at an interest rate of 6%. How much will you have in your account at the end of two years? How much is simple interest and how much is compound interest?...

Q:

You need to write a paper about Evaluation of Compensation Strategies in detailed

Q:

The most popular way for international expansion is for a local firm to acquire foreign companies. Would you seek to acquire a company within the European Union or outside of it? Why? Describe the...

Q:

Acer, headquartered in Singapore but founded in Taiwan, manufactures personal computers and computer components. Just 2 0 years after it opened for business, Acer had spawned 1 0 subsidiaries...

Q:

B. A division-wide aptitude test in Mathematics was conducted to 1000 pupils. The mean of the test is 58 and the standard deviation is 12. The scores also approximate the normal distribution. 1. What...

Q:

Write a program to calculate the total cost of ordering a pizza 1. You can build a form where a pizza order can be entered by simply clicking on check boxes and option buttons. 2. Draw three frames....

Q:

4. Calculate the total cost of the order according to the following charges: Size: Small $2, Medium $4, Large S6. Toppings: Extra Cheese $0.5, Mushrooms $0.4, Black Olives $0.3, Onions $0.2, Green...

Q:

Why do organizations use a Style Guide? What formatting techniques can be used to enhance the readability of your completed document? Provide detail on the process you would follow when designing and...

Q:

Compare and Contrast using Venn diagram about relative dating and absolute dating.

Q:

Please help it's urgent thank you. please write 400-450 words. thank you QUESTION 4 (20 MARKS) The success of any project is dependent on a diverse range of skills, abilities and competencies of the...

Q:

6. List one and only one societal role that you wish you had performed better in. Spend the next month on a small push to improve your personal performance within this role. At the end of the month,...

Q:

9. Imagine that you have achieved the goal you set for yourself in task 8. a. What do you see in the past? b. How do you feel? c. What do you hear? d. How does this change your roles? e. How does...

Q:

8. Set a goal that you really want to achieve in the near future, lets say 12 years. How does this goal fit in relation to the form roles and values above? What role and what value was it that...