You Deposit $1,000 in a Long-Term Certificate of Deposit with an Interest

question 57

Multiple Choice

You deposit $1,000 in a long-term certificate of deposit with an interest rate of 9%. How many years will it take for you to triple your deposit? Pick the closest answer.

• A) 11 years
• B) 12 years
• C) 13 years
• D) 14 years

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