If I invest $20,000 at 2.5% today,how long will it take to reach a minimum of $50,000 compounded semi-annually?
A) 5 years.
B) 19 years.
C) 9 and ½ years.
D) 17 years.
Correct Answer:
Verified
Q1: Discounting a future amount of a cash
Q2: The obligation for deferred income taxes is
Q6: Future value is the amount that must
Q7: As the discount rate required by an
Q12: The present value of a single amount
Q15: The present value of an ordinary annuity
Q22: How much must I invest today in
Q23: Your wealthy aunt wishes to give you
Q24: Compound interest:
A)Is interest only on the principal
Q24: If I invest $50,000 today for 5
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents