You Have Money in an Account at 5% Interest, Compounded

question 30

Multiple Choice

You have money in an account at 5% interest, compounded weekly. To the nearest year, how long will it take for your money to triple?

• A) 31 years
• B) 18 years
• C) 22 years
• D) 13 years

---

Definitions:

Transformational Leadership

A leadership approach where the leader collaborates with teams to pinpoint necessary changes, develops a vision to steer these changes through motivation, and implements the changes alongside dedicated group members.

Path Goal Theory

A leadership theory that suggests leaders should adjust their leadership styles based on the task and the characteristics of the followers to achieve the desired outcome.

LMX

Leader-Member Exchange theory, which focuses on the two-way (dyadic) relationships between leaders and followers, emphasizing the importance of building strong, trust-based relationships for effective leadership.

Empirical Research

A way of gaining knowledge by means of direct and indirect observation or experience, emphasizing the role of evidence collected through experiments, observation, and documentation.