Wasup Corp A) 3 Years
B) 4 Years
C) 5 Years
D)

question 115

Multiple Choice

Wasup Corp. is thinking of borrowing $110,000 from its bank at 8% annual interest rate. The amount that will be repaid is $138,568. Assume annual compounding. In approximately how many years will Wasup Corp. need to repay the loan? Use the future value of $1 factor table shown below.
Excerpt of Future Value of $1 Table
$$\begin{array} { | c | c | c | c | } \hline \text { Periods } & \mathbf { 7 \% } & \mathbf { 8 \% } & \mathbf { 9 \% } \\\hline 1 & 1.07000 & 1.08000 & 1.09000 \\\hline 2 & 1.14490 & 1.16640 & 1.18810 \\\hline 3 & 1.22504 & 1.25971 & 1.29503 \\\hline 4 & 1.31080 & 1.36049 & 1.41158 \\\hline 5 & 1.40255 & 1.46933 & 1.53862 \\\hline 6 & 1.50073 & 1.58687 & 1.67710 \\\hline 7 & 1.60578 & 1.71382 & 1.82804 \\\hline\end{array}$$

• A) 3 years
• B) 4 years
• C) 5 years
• D) 6 years

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Definitions:

Centrioles

Cylindrical structures within the cell that play a key role in cell division and organization of the mitotic spindle.

Cytokinesis

Splitting of the cytoplasm during cell division.

Centrioles

Cylindrical organelles near the nucleus in animal cells, involved in the development of spindle fibers in cell division.

Mitosis

A process of cell division in eukaryotic cells that results in two genetically identical daughter cells from a single parent cell.