Phil Has $2,000, and He Needs It to Grow to $4,000

question 5

Multiple Choice

Phil has $2,000, and he needs it to grow to $4,000 in 8 years. Assuming he does not add any more money to this fund, what rate of interest would he need to earn? (Round the rate of interest to the nearest whole number.)

• A) 6%
• B) 7%
• C) 8%
• D) 9%
• E) 10%

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Definitions:

Organizational Performance

The analysis of a company's efficiency, effectiveness, and capability to achieve its goals and objectives.

Resource Utilization

The efficient and effective use of resources, such as capital, materials, and labor, to achieve maximum output.

Resource Utilization

The efficient and effective deployment and use of resources, such as capital, materials, and labor, in the production of goods or services.

Work Performance

The assessment of an employee's effectiveness in fulfilling job duties and contributing to organizational goals.