Solve the Problem

question 95

Multiple Choice

Solve the problem. Round to the nearest cent as needed.
-An actuary for a pension fund need to have $14.6 million grow to $22 million in 6 years.What interest rate compounded annually does he need for this investment to growth as specified.Round your answer to the nearest hundredth of a percent.

• A)0.07%
• B)7%
• C)7.7%
• D)7.07%

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Definitions:

Evil Spirits

Supernatural entities believed in many cultures to be the cause of misfortune, illness, or evil.

Diathesis-Stress Model

A psychological theory that attempts to explain behavior as a predispositional vulnerability together with stress from life experiences.

Genetic Predisposition

The increased likelihood of developing a particular disease based on a person's genetic makeup.

Depression

A mental health disorder characterized by persistently low mood, loss of interest in activities, and a range of physical and cognitive symptoms.