Multiple Choice
You deposit $20,000 in an account that doubles in seven years. How many years will it take the account to be reduced to its original value if it loses 12 percent per year?
A) 4.92 years
B) 5.42 years
C) 6.62 years
D) 8.22 years
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q79: Consider a $500 deposit earning 5 percent
Q80: Assume you borrow $5,000 today and pay
Q81: How do you calculate the future value
Q82: Five years ago, Jane invested $5,000 and
Q83: What is the value in year 3
Q85: A firm's net income last year was
Q86: You have $100,000 in your account. Assuming
Q87: How long will it take $100 to
Q88: What is the present value of a
Q89: A deposit of $700 earns interest rates