The table lists interest rates on long-term investments (based on 10-year government bonds) in several countries in 2004-2005. Assuming that you invest $12,000 in Japan, how long (to the nearest year) must you wait before your investment is worth $18,000 if the interest is compounded annually $$\begin{array} { | l | l | l | l | }
\hline \text { Country } & \text { U.S. } & \text { Japan } & \text { Canada } \
\hline \text { Yield } & 5.3 \% & 1.5 \% & 5.2 \% \
\hline
\end{array}$$
__________ year(s)

Question

The table lists interest rates on long-term investments (based on 10-year government bonds) in several countries in 2004-2005. Assuming that you invest $12,000 in Japan, how long (to the nearest year) must you wait before your investment is worth $18,000 if the interest is compounded annually  $$\begin{array} { | l | l | l | l | } 
\hline \text { Country } & \text { U.S. } & \text { Japan } & \text { Canada } \
\hline \text { Yield } & 5.3 \% & 1.5 \% & 5.2 \% \
\hline
\end{array}$$  
__________ year(s)

Quizplus · Accepted Answer

The Answer of The table lists interest rates on long-term investments (based on 10-year government bonds) in several countries in 2004-2005. Assuming that you invest $12,000 in Japan, how long (to the nearest year) must you wait before your investment is worth $18,000 if the interest is compounded annually  $$\begin{array} { | l | l | l | l | } 
\hline \text { Country } & \text { U.S. } & \text { Japan } & \text { Canada } \
\hline \text { Yield } & 5.3 \% & 1.5 \% & 5.2 \% \
\hline
\end{array}$$  
__________ year(s)

The Table Lists Interest Rates on Long-Term Investments (Based on 10-Year