At 14% Compounded Annually, an Investment of $50,000 Will Grow

question 17

Multiple Choice

At 14% compounded annually, an investment of $50,000 will grow to $1,000,000 in 22.86 years. How much longer will it take at 11% compounded annually?

• A) 8.33 years
• B) 3.45 years
• C) 5.85 years
• D) 13.78 years
• E) 28.71 years

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Definitions:

Social Movement Unionism

A form of unionism that combines traditional labor organizing with broader social and political issues, aiming to enact social change.

Industrial Relations

A field of study and practice focused on the management of employment relationships and the dynamics between employers, employees, and their representatives.

Industry Union

A type of labor union that represents all workers, skilled and unskilled, within a specific industry.

Job Control Unionism

A form of unionism focused on gaining control over work processes and conditions, emphasizing job security and workers' rights over wages.