You have $5,000 to invest today.

There is an investment that promises to pay 8.0% per year.

with interest compounded on an annual basis.

The length of time that the money must remain

in the investment is 5 years.

If you decide to choose this investment,

how much money will be accumulated by the end of the fifth year?

$7,012.76

$8,052.55

$7,693.12

$7,346.64

Question 6

4 Points

Jane can invest $2,000 in an investment today and

accumulate $6,000 by the end of the investment period

The interest rate over this period is 10.0%

How many Periods will it approximately take for this money

to grow to the promised $6,000 amount?

Take your calculation out to two decimal places.

10.53

12.53

15.13

11.53