At the End of T Years, the Future Value of an Investment

question 130

Multiple Choice

At the end of t years, the future value of an investment of $7000 in an account that pays 7% APR compounded monthly is $S = 7000 \left( 1 + \frac { 0.07 } { 12 } \right) ^ { 12 t }$ dollars. Assuming no withdrawals or additional deposits, how long will it take
For the investment to reach $21,000? Round to three decimal places.

• A) 23.610 years
• B) 15.740 years
• C) 12.592 years
• D) 18.888 years

---

Definitions:

Subduction Zone

The region where one tectonic plate moves under another, into the mantle, typically associated with volcanic arcs and oceanic trenches.

Oceanic Trench

Long, narrow, and deep depressions on the ocean floor, usually the result of one tectonic plate subducting under another, often associated with volcanic arcs and earthquake activity.

Magmatic Belt

A region characterized by a high concentration of volcanic rocks and activity, indicating the presence of underlying magma chambers.

Subduction Zones

Regions of the Earth's crust where one tectonic plate moves under another, leading to volcanic activity, earthquakes, and the creation of oceanic trenches.