How Long Did It Take for $1635 to Increase to $2310

question 27

Multiple Choice

How long did it take for $1635 to increase to $2310 if the investment earned interest at a rate of 8.08% compounded quarterly (give your final answer in years and months, e.g., 3 years and 7.23 months) ?

• A) 7 years 7.69 months
• B) 4 years .64 months
• C) 3 years 4.79 months
• D) 4 years 3.84 months
• E) 8 years 1.69 months

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Definitions:

Circumcision

The surgical removal of the foreskin from the male genitalia, often for religious, cultural, or medical reasons.

Developed Sense

A refined or highly developed capacity, such as sight, hearing, or taste, often resulting from learning or experience.

Newborn's Hearing

The auditory ability of a newborn baby, which begins to develop before birth and is fully functional shortly after birth for hearing sounds.

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The protective liquid contained within the amniotic sac that surrounds and protects the fetus during pregnancy.