Rounded to the Nearest Month, Calculate How Long It Will

question 138

Multiple Choice

Rounded to the nearest month, calculate how long it will take for $1,000 to decline to $643.68 due to a 5.2% inflation rate.

• A) 9 years and 6 months
• B) 9 years and 3 months
• C) 8 years and 9 months
• D) 8 years and 6 months
• E) 8 years and 3 months

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Definitions:

Split

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