How Long Will It Take for $8200 to Grow to $42,000

question 149

Multiple Choice

How long will it take for $8200 to grow to $42,000 at an interest rate of 4.7% if the interest is compounded continuously? Round the number of years to the nearest hundredth.

• A) 34.76 yr
• B) 1.11 yr
• C) 3475.61 yr
• D) 3.48 yr

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Definitions:

Reversibility

A concept in cognitive development identifying the ability to recognize that actions can be reversed, restoring the original state, crucial in understanding conservation in Piaget's theory.

Stranger Anxiety

A form of distress that children experience when exposed to people unfamiliar to them, typically observed around 6 to 12 months of age.

Surveys

Research tools consisting of questionnaires or interviews used to gather data on opinions, experiences, or behaviors of a group of people.

Naturalistic Observations

A research method in which subjects are observed in their natural environment without any manipulation by the observer.