Your Investment Account Pays 8

question 26

Multiple Choice

Your investment account pays 8.0%, compounded annually.If you invest $5,000 today, how many years will it take for your investment to grow to $9,140.20?

• A) 5.14
• B) 5.71
• C) 6.35
• D) 7.05
• E) 7.84

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Definitions:

Scores

Refers to the numerical or categorical values obtained from tests, evaluations, or assessments.

Standard Deviation

A statistic that measures the dispersion of a dataset relative to its mean, indicating how spread out the data points are.

Unbiased Estimates

Refers to statistical estimates that are expected to be equal to the true values of the parameter being estimated, showing no systematic error.

Population Estimates

Calculations that infer the number of individuals in a population at a certain time.