Using the Time Value of Money charts provided, answer the following question(s).
(Note to Instructors: Provide the appropriate tables to students from Personal Finance, Sixth Edition, Appendix C: Financial Tables.)
How many years will it take for $500 to grow to $1,039.50 if it is invested at 5% compounded annually?
◦ 15
◦ 14
◦ 13
◦ 12