What Annual Interest Rate Is Required to Accumulate $6,802 $\bold{\text{(Use appropriate factor(s)from the tables provided.)}}$

question 13

Essay

What annual interest rate is required to accumulate $6,802.50 in four years from an investment of $5,000? (PV of $1,FV of $1,PVA of $1,and FVA of $1) $\bold{\text{(Use appropriate factor(s)from the tables provided.)}}$
A)5%
B)8%
C)10%
D)12%
E)15%

• A)5%
• B)8%
• C)10%
• D)12%
• E)15%

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Definitions:

External Locus

Refers to the belief that outside forces, rather than personal actions, control one's life circumstances.

Locus of Control

A psychological concept that refers to individuals’ beliefs about the extent to which their actions influence the rewards and consequences they experience.

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A consistent and unchanging perspective or set of beliefs about the world and one's place within it.

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A state of physical well-being in which a person is physically able to perform daily activities without restrictions or limitations.