What Annual Interest Rate Is Required to Accumulate $6,802

question 84

Multiple Choice

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}) (Use appropriate factor(s) from the tables provided.)

• A) 8%
• B) 12%
• C) 10%
• D) 15%
• E) 5%

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Definitions:

Species

A group of living organisms consisting of similar individuals capable of exchanging genes or interbreeding.

Animals Using Tools

The behavior of non-human animals that involves using objects as functional extensions of body parts to accomplish tasks.

Chimpanzees

A species of great ape known for their complex social behaviors and considered to be the closest living relatives to humans.

Gorillas

Large apes native to the forests of central Sub-Saharan Africa, known for their complex social structures and behaviors.