Use the Present Value and Future Value Tables Included in Appendix

question 104

Multiple Choice

Use the present value and future value tables included in Appendix 8 and on the textbook companion website.
- If Cheng Corporation can invest $10,000 at 10 percent interest compounded annually, approximately how many years will it take for the $10,000 to grow to $20,000?

• A) Slightly more than 5 years
• B) Slightly more than 7 years
• C) Slightly more than 10 years
• D) Slightly more than 25 years