How Long Will It Take an Investment of $25,000 at 6

question 66

Essay

How long will it take an investment of $25,000 at 6% compounded annually to accumulate to a total of $35,462.50? (PV of $1,FV of $1,PVA of $1,and FVA of $1) $\bold{\text{(Use appropriate factor(s)from the tables provided.)}}$
A)4 years
B)5 years
C)6 years
D)2 years
E)10 years

• A)4 years
• B)5 years
• C)6 years
• D)2 years
• E)10 years

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Definitions:

Flow Chart

A graphical representation of a process or system showing the sequence of steps or operations using symbols and arrows.

Control System

Mechanisms or procedures implemented to guide activities towards achieving organizational objectives, often through monitoring and feedback.

Objectives

Specific, measurable targets a person or organization plans to achieve within a defined timeframe to fulfill broader goals.

Cause-And-Effect Analysis

A method used to identify the underlying causes of a problem or event by examining the relationship between actions and outcomes.