Determine How Long Will Take to Triple Money Given an Interest

question 107

Multiple Choice

Determine how long will take to triple money given an interest rate of 4.39% compounded monthly. Calculate to the nearest day.

• A) 25 years and 26 days
• B) 24 years and 46 days
• C) 23 years and 60 days
• D) 22 years and 90 days
• E) 20 years and 60 days

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Definitions:

Intermediate Transit Point

A location, such as a warehouse or distribution center, where goods stop temporarily during their journey from the manufacturer to the end customer.

Central DC

Central DC, or Central Distribution Center, is a critical logistics facility that centralizes warehousing and distribution activities for efficient goods movement.

Use Fee

A charge imposed for the use of a particular service, facility, or product, often on a rental or per-use basis.

Congestion

A situation in transportation or network systems where demand exceeds capacity, resulting in delays and inefficiencies.