Bob has $2, 500 invested in a bank that pays 4% annually. How long will it take for his funds to double? 14 years 15 years 16 years 17 years 18 years You plan to invest in marketable securities that pay 8.0%, compounded annually. If you invest $5,000 today, how many years will it take for your investment to grow to $9, 140.20? 5 years 6 years 8 years 9 years 10 years You want to buy a new sports car 3 years from now, and you plan to save $4, 200 per year, beginning one year from today. You will deposit your savings in an account that pays 5.2% interest How much will you have just after you make the 3rd deposit, 3 years from now? $11, 973 $12, 603 $13, 267 $13, 930 $14, 626 You want to go to Europe 5 years from now, and you can save $3, 100 per year, beginning one year from today. You plan to deposit the funds in a mutual fund that you think will return 8.5% per year. Under these conditions, how much would you have just after you make the 5th deposit 5 years from now? $18, 369 $19, 287 $20, 251 $21, 264 $22, 327