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:

Requirements

Conditions or standards that must be met or complied with, often used in the context of procedures, regulations, or criteria.

Mexican War

Also known as the Mexican-American War (1846-1848), a conflict between the United States and Mexico that resulted in the U.S. acquisition of territories in the western portion of North America, including California and New Mexico.

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The act of incorporating a land area into another political entity, such as a country or state, often implying a forceful or unilateral acquisition.

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