Glen Wants to Take a Holiday That Costs $8,850, but Currently

question 18

Multiple Choice

Glen wants to take a holiday that costs $8,850, but currently he only has $2,750 saved. If he invests this money at 8 percent interest compounded annually, how long will he have to wait to take his holiday? Use a financial calculator to make the calculation.

• A) 12.36 years
• B) 16.25 years
• C) 15.19 years
• D) 13.52 years
• E) 14.12 years

---

Definitions:

Fear

A distressing emotion aroused by impending danger, evil, pain, or perceived threats, whether the threat is real or imagined.

Planned Organizational Change

A deliberate process designed to realign an organization's direction, structure, or capabilities to meet strategic objectives or respond to external or internal pressures.

Human Resource Information System

A combination of systems and processes that connect human resource management and information technology through HR software.

Monitor Measures

Activities and processes put in place to regularly check, track, and assess the effectiveness of policies, practices, or operations.