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

question 3

Short Answer

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? Country U.S. Japan Canada Yield 5.3% 1.5% 5.2% __________ year(s)

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Definitions:

Planning Budget

A budget prepared for a planned level of activity, often for the purpose of setting goals or objectives for revenue and expenses over a period of time.

Wages And Salaries

Payments made to employees for their labor, either on an hourly (wages) or periodic basis (salaries).

Planning Budget

A financial plan that estimates future income, expenses, and resources over a specific period, often used for guiding business decisions.

Tenant-Days

A measure used in real estate to quantify the aggregate number of days units are occupied by tenants over a specified period.