QUESTION 28At 12% annual interest, how long would it take to quintuple (five times) your investment? (hint imagine PV=100, and FV=500)O 15 yearsO 13 yearsO 14 yearsO12 yearsQUESTION 29What is the nominal annual rate (APR) if a bank charges you a 9 percent actual rate (EAR-9%) compounded weekly (52 weeks a year)? (hint: use nominal function in excel to get APR)O 8.65%8.62%O 8.71%8.84%

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Answered: QUESTION 28 At 12% annual interest, how…

QUESTION 28 At 12% annual interest, how long would it take to quintuple (five times) your investment? (hint: imagine PV=100, and FV=500) 15 years 13 years 14 years 12 years

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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