menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Corporate Finance
  4. Exam
    Exam 4: Time value of money
  5. Question
    Your Bank Pays 4% Interest Annually
Solved

Your Bank Pays 4% Interest Annually

Question 120

Question 120

Multiple Choice

Your bank pays 4% interest annually.You have $2, 500 invested in the bank.How long will it take for your funds to double?


A) 14.39
B) 15.15
C) 15.95
D) 16.79
E) 17.67

Correct Answer:

verifed

Verified

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

Related Questions

Q115: Suppose you inherited $275, 000 and invested

Q116: You agree to make 24 deposits of

Q117: A new investment opportunity for you is

Q118: You want to buy new kitchen appliances

Q119: Suppose your credit card issuer states that

Q121: How much would Roderick have after 6

Q122: What is the PV of an ordinary

Q123: Your sister paid $10, 000 (CF at

Q124: What's the present value of a perpetuity

Q125: When a loan is amortized, a relatively

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