Question
An analyst wants to save $10,000 for a new car and currently has $8,000. If she invests the $8,000 at a 5% annual interest rate,
An analyst wants to save $10,000 for a new car and currently has $8,000. If she invests the $8,000 at a 5% annual interest rate, how long will it take for this investment to reach $10,000?
Group of answer choices
4.2 years
4.6 years
5.0 years
4.9 years
5.6 years
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Cases In Financial Reporting
Authors: Ellen Engel, D. Eric Hirst, Mary Lea McAnally
7th Edition
1934319791, 9781934319796
