What Is the Rate on an Investment That Triples $9465

question 228

Multiple Choice

What is the rate on an investment that triples $9465 in 35 years? Assume interest is compounded monthly.

• A) 3.1%
• B) 2.6%
• C) 3.9%
• D) 2.1%

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Definitions:

Creditors' Claims

Rights or claims that creditors have against the assets of a company as a result of extending credit or lending money to the company.

Business Activities

Operations and actions undertaken by a company to generate revenue, such as sales, service provision, and production.

Acquisition

The process of obtaining control of another corporation or asset.

Disposal

The act of getting rid of an asset through sale, exchange, retirement, or destruction.