The Table Lists Interest Rates on Long-Term Investments (Based on 10-Year

Multiple Choice

The table lists interest rates on long-term investments (based on 10-year government bonds) in several countries in 2004-2005. Assuming that you invest $11,000 in Japan, how long (to the nearest year) must you wait before your investment is worth $17,000 if the interest is compounded annually? Country U.S. Japan Canada Yield 5.3% 1.5% 5.2%

A) 29 years
B) 24 years
C) 25 years
D) 32 years
E) 30 years