What Annual Interest Rate Is Required to Accumulate $6,802 $\bold{\text{(Use appropriate factor(s)from the tables provided.)}}$

question 13

Essay

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) $\bold{\text{(Use appropriate factor(s)from the tables provided.)}}$
A)5%
B)8%
C)10%
D)12%
E)15%

• A)5%
• B)8%
• C)10%
• D)12%
• E)15%

---

Definitions:

Land Improvement Costs

Expenses incurred to enhance the usability and value of land, including landscaping, paving, and installing utilities, which can be capitalized.

Initiation Fees

Fees charged to initiate a service or to join a club or organization, often as a one-time cost for new members.

Endowment Contributions

Donations endowed to an institution meant for investment to provide a continuous source of funding.

Externally Restricted

Pertains to funds or resources that are subject to restrictions regarding their use, imposed by external parties or agreements.