You Have $500 Invested in an Account Earning 7

question 88

Short Answer

You have $500 invested in an account earning 7.2% interest compounded annually. How many years will it take to triple your money? Round to the nearest tenth of a year.

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Definitions:

Resilience

Denotes the ability to recover quickly from difficulties or adapt well in the face of adversity, trauma, or significant stress.

Lobotomy

A surgical procedure that involves cutting or scraping away most of the connections to and from the prefrontal cortex, once used to treat mental disorders.

Permanently Lethargic

Describes a state of continuous tiredness, a lack of energy, and general disinterest in activities, which may stem from various medical or psychological conditions.

Patients

Individuals who receive medical treatment or care from healthcare professionals due to illness or injuries.