How long will it take an investment of $25,000 at 6% compounded annually to accumulate to a total of $35,462.50? (^PV^of^$1, ^FV^of^$1, ^PVA^of^$1, and ^FVA^of^$1) (Use appropriate factor(s) from the tables provided.) A) 6 years B) 2 years C) 5 years D) 4 years E) 10 years

Question

Quizplus · Accepted Answer

Using the future value formula for compound interest, FV = PV * (1 + r)^n, where FV is the future value, PV is the present value, r is the interest rate, and n is the number of years. Solving for n gives approximately 6 years.

How Long Will It Take an Investment of $25,000 at 6