Multiple Choice
A company expects to invest $5,000 today at 12% annual interest and plans to receive $15,529 at the end of the investment period. How many years will elapse before the company accumulates the $15,529? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)
A) 8 years
B) 0.322 years
C) 10 years
D) 3.1058 years
E) 5 years
Correct Answer:
Verified
Correct Answer:
Verified
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