Moe and Joe Are Twins

question 119

Multiple Choice

Moe and Joe are twins. Moe invested $1,000, earned 9% annually, and now has $1,992.56. Joe invested $1,000, earned 6.47%, and now has $1,992.97. Joe invested his money _____ years before Moe.

• A) 2.5 years
• B) 2.8 years
• C) 3.0 years
• D) 3.2 years
• E) 3.5 years

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Definitions:

Gross National Product

The total value of all goods and services produced by a country's residents and businesses, regardless of where the production takes place, over a specific time period.

Gross Domestic Product

The total value of all goods and services produced within a country over a specific time period, a primary indicator of economic health.

Colonies of Japan

Territories that were under Japanese imperial control from the late 19th century through the mid-20th century, including Korea, Taiwan, and parts of China.

Transportation Networks

Systems consisting of roads, railways, air routes, and waterways that facilitate the movement of goods and people across various locations.