Question: Using the following table, which lists interest rates on long-term investments (based on 10-year government bonds) in several countries in 2014. Country U.S. Japan Germany
Using the following table, which lists interest rates on long-term investments (based on 10-year government bonds) in several countries in 2014.
| Country | U.S. | Japan | Germany | Australia | Brazil |
|---|---|---|---|---|---|
| Yield | 2.5% | 0.5% | 1.0% | 3.5% | 4.2% |
Assuming that you invest $6,000 in the United States, how long (to the nearest year) must you wait before your investment is worth $10,000 if the interest is compounded annually?
Step by Step Solution
3.52 Rating (155 Votes )
There are 3 Steps involved in it
ANSWER To calculate the time required for an investment to grow from 6000 to 10000 at ... View full answer
Get step-by-step solutions from verified subject matter experts
