How Long Will It Take $4,000 to Grow to $7,500

question 187

Multiple Choice

How long will it take $4,000 to grow to $7,500 if the investment earns interest at the rate of 14% / year compounded monthly? Round your answer to one decimal place. ​

• A) 4.5 year(s)
• B) 4.6 year(s)
• C) 4.8 year(s)
• D) 3.6 year(s)

---

Definitions:

Assets And Liabilities

Assets are resources owned by a company that have economic value, while liabilities are obligations the company owes to others, reflecting the company's debts or financial responsibilities.

Unearned Rent Revenue

Income received for rent that has been paid in advance by a tenant but not yet earned by the landlord.

Wages Payable

Wages payable is a liability account that records the amounts owed to employees for work that has been performed but not yet paid.

Capital Lease Contracts

Lease agreements that transfer substantially all risks and rewards of ownership from the lessor to the lessee, effectively treated as a purchase.