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

question 86

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 $13,000 in Japan, how long (to the nearest year) must you wait before your investment is worth $19,000 if the interest is compounded annually Round your answer to the nearest year. $$\begin{array} { | l | l | l | l | } \hline \text { Country } & \text { U.S. } & \text { Japan } & \text { Canada } \\\hline \text { Yield } & 5.3 \% & 1.5 \% & 5.2 \% \\\hline\end{array}$$

• A)26 years
• B) 19 years
• C) 25 years
• D) 22 years
• E) 28 years

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