You receive a $5 comma 000 check from your grandparents for graduation. You decide to save it toward a down payment on a house. You invest it earning 7% per year and you think you will need to have $10 comma 000 saved for the down payment. How long will it be before the $5 comma 000 has grown to $10 comma 000 ?

10.24 years      

Explanation:

For this question we use the NPER function that is shown on the attachment. Kindly find it below:

Data provided in the question

Present value = $5,000

Future value = $10,000

Rate of interest = 7%

PMT = $0

The formula is shown below:

= NPER(Rate;PMT;-PV;FV;type)

The present value come in negative

So, after solving this, the answer would be 10.24 years

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3

answer; dividing net income by 1- t ;