An Annuity Has an Annual Compound Interest Rate of 9

question 77

Multiple Choice

An annuity has an annual compound interest rate of 9 percent.At this rate, the original investment will be doubled in approximately

• A)10 years
• B)8 years
• C)5 years
• D)4.75 years

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Definitions:

Freedom

The ability or authority to do, say, or think whatever one desires freely and without limitations.

Social Justice

A concept regarding fair and just relations between the individual and society, measured by the distribution of wealth, opportunities for personal activity, and social privileges.

Fair Deal

A set of domestic reforms proposed by U.S. President Harry S. Truman in 1949, including civil rights, healthcare, and education improvements.

Taft-Hartley Act

A 1947 U.S. federal law that restricted the activities and power of labor unions, formally known as the Labor Management Relations Act.