Question
Question 10.25 pts Thomas has an investment fund that he hopes will be worth $5,000. He invested a total of $3,333 in the fund today.
Question 10.25 pts
Thomas has an investment fund that he hopes will be worth $5,000. He invested a total of $3,333 in the fund today. The fund is earning 7.00% annually. How long will it take (in years) until Thomas has his $5,000?
Group of answer choices
-5.99 years (negative)
5.99 years
5.81 years
5.32 years
Flag question: Question 2Question 20.25 pts
Charlie just found out that his old beanie baby bear is worth $42,000 today. He originally bought it for $4.50. If the bear's worth grew by 55% annually, how many years has Charlie owned the bear?
Group of answer choices
21.50 years
No solution / error
20.86 years
250.30 years
Flag question: Question 3Question 30.25 pts
Erik has a famous painting that he hopes to sell for $24,000 in the future (FV). He was just offered $19,000 for the painting. At a discount rate of 6.5% with quarterly compounding, how many years would Erik have to wait if he wanted to sell for the $24,000?
Group of answer choices
14.49 years
3.62 years
3.71 years
14.84 years
Flag question: Question 4Question 40.25 pts
Becca has $5,500 that she wants to invest today to grow into $20,000. She finds an investment that earns 13.5% with monthly compounding. How many years will she wait till she has the $20,000?
Group of answer choices
122.34 years
9.62 years
115.40 years
10.19 years
Flag question: Question 5Question 50.25 pts
A FV of $600,000 is worth a PV of $80,000 today. Assuming a rate of return of 8% per year, how many years were involved in the calculation (NPER) of the PV?
Group of answer choices
28.00 years
26.18 years
24.35 years
-26.18 years (negative)
Flag question: Question 6Question 60.25 pts
Jack has an investment that he hopes wil be worth $1,500. Jack invested a total of $150 in the investment today. The investment is earning 9.75% annually. How long will it take (in years) until Jack has his $1,500?
Group of answer choices
10.00 years
-24.75 years (negative)
24.75 years
No solution / error
Flag question: Question 7Question 70.25 pts
A FV of $25,000 is worth a PV of $10,000 today. Assuming a rate of return of 9.5% per year, how many years were involved in the calculation (NPER) of the PV?
Group of answer choices
10.10 years
9.00 years
-10.10 years (negative)
11.00 years
Flag question: Question 8Question 80.25 pts
Terry has a rare painting that is supposed to be worth $5,000 sometime in the future. Terry was just offered $3,000 for the painting today (PV). Based on an interest rate (discount rate) of 12% per year, how many years would Terry have had to wait to get the $5,000 value in the future?
Group of answer choices
No solution / error
4.51 years
3.00 years
-4.51 years (negative)
Flag question: Question 9Question 90.25 pts
A FV of $1,000,000 is worth a PV of $50,000 today. Assuming a rate of return of 12.5% per year, with monthly compounding, how many years were involved in the calculation (NPER) of the PV?
Group of answer choices
24.09 years
25.43 years
No solution / error
28.00 years
Flag question: Question 10Question 100.25 pts
Shandra has calculated that her investment of $3,000 will grow to $100,000. If she has a rate of 9% (which is then compounded monthly), how long (in years) will it take for Shandra to have her $100,000?
Group of answer choices
469.29 years
5,631.51 years
39.11 years
21.50 years
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