A. 8.42 years
B. 10.51 years
C. 15.75 years
D. 18.78 years
Using financial calculator, Put PV =6000, Rate = 5%, FV, 10,000 and solve for Nper. 10.47 Close to the 10.51.
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The correct answer to the question: "You need Rs. 10,000 to buy a new television. If you have Rs. 6,000 to invest at 5 percent compounded annually, how long will you have to wait to buy the television?" is "10.51 years".