How Long Will It Take $50 000 Placed in a Term

question 43

Multiple Choice

How long will it take $50 000 placed in a term deposit at 8% interest to double?

• A)9.55 years
• B)9.59 years
• C)10.90 years
• D)9.01 years

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Definitions:

Time-series Analysis

A statistical technique that analyzes a series of data points, usually collected at consistent intervals, to identify trends, cycles, or seasonal variations.

Trend Income Statements

Financial statements that show the progression of key income statement figures over a series of periods, allowing for trend analysis.

Sales

The revenues earned from selling goods or services over a period of time.

Preferred Stock Dividends

Dividends paid on preferred shares of a company which typically have a fixed dividend rate and priority over common stock in dividend payments.