Compute the Compound Interest

question 43

Multiple Choice

Compute the compound interest.
-How long must $4200 be in a bank at 6% compounded annually to become $7521.56? (Round to the nearest year.)

• A) 10 yr
• B) 11 yr
• C) 12 yr
• D) 9 yr

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Definitions:

Problem-Solving Skills

Abilities and techniques used to effectively identify solutions to challenges or issues.

Social Judgment Skills

The ability to understand and interpret the reactions and interactions of others accurately to navigate social situations effectively.

Mumford

Refers to a significant figure or reference in the field being discussed, likely alluding to a notable contributor to research or theory without specific context.

Personal Attributes

A rephrased definition: Individual characteristics, traits, and qualities that define a person's identity and behaviors.