At 8%, Compounded Annually, How Long Will It Take $750

question 81

Multiple Choice

At 8%, compounded annually, how long will it take $750 to double?

• A) 9 years
• B) 8 years
• C) 12 years
• D) 4 years
• E) 6 years

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Definitions:

Financial Data

Quantitative information pertaining to financial transactions, including earnings, expenditures, assets, liabilities, and equity.

Controlling Interest

Ownership interest in a business entity that gives the holder the power to direct or influence the direction of management and policies.

Consolidation Worksheet

An instrument utilized for creating combined financial reports that merges the finances of a parent entity with those of its subsidiary companies.

Goodwill Impairment

An accounting process involving the reassessment of the value of goodwill on the balance sheet and reducing it if its market value has declined below the carrying value.