Clint Puts $200 into an Account When the Interest Rate

question 129

Multiple Choice

Clint puts $200 into an account when the interest rate is 8 percent.Later he checks his balance and finds that he has a balance of about $272.10.How many years did Clint wait to check his balance?

• A)3 years
• B)3.5 years
• C)4 years
• D)4.5 years

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Definitions:

Basic Assumption

An underlying, fundamental premise or belief that is accepted as true without proof.

Tender Can Be Made

Indicates that an offer or presentation of payment or performance in accordance with the terms of a contract is possible or has occurred.

Day Or Night

A term used to indicate that an action or operation can occur at any time within a 24-hour period.

Revocation Of Acceptance

Undoing the acceptance of an offer or contract, often due to the discovery of a significant problem or defect.