menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Personal Finance Study Set 15
  4. Exam
    Exam 3: Applying Time Value Concepts
  5. Question
    How Many Years Will It Take for $500 to Grow
Solved

How Many Years Will It Take for $500 to Grow

Question 10

Question 10

Multiple Choice

How many years will it take for $500 to grow to $1,039.50 if it is invested at 5% compounded annually?


A) 15
B) 14
C) 13
D) 12

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q5: Use the following two columns of items

Q6: Your utility bill, which varies each month,

Q7: Which of the following decisions would involve

Q8: After completing this chapter, do you feel

Q9: Aaron wants to put $200 per month

Q11: In general, a dollar can typically buy

Q12: If Art wants $35,000 in 10 years

Q13: How much must you invest today at

Q14: A stream of equal payments either received

Q15: To determine how long it would take

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines