The Price of Gold Has Gone from $250 an Ounce

question 261

Multiple Choice

The price of gold has gone from $250 an ounce to approximately $1,600. Given an annual growth rate of 8.04%, how long did it take gold to reach its highest value?

• A) 27 years
• B) 26 years
• C) 25 years
• D) 24 years
• E) 23 years

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