How Many Years Will It Take for $500 to Grow

question 10

Multiple Choice

How many years will it take for $500 to grow to $1,039.50 if it is invested at 5% compounded annually?

• A) 15
• B) 14
• C) 13
• D) 12

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Definitions:

Plants

Living organisms belonging to the kingdom Plantae that typically produce their own food through photosynthesis and have cell walls.

Depressants

Substances that reduce the activity of the central nervous system, often used to induce calmness, reduce anxiety, or promote sleep.

Reduced Anxiety

A state or condition in which feelings of worry, nervousness, or unease are diminished or less intense.

Think-Drink Effect

The phenomenon where an individual's expectations about the effects of alcohol influence their perception of their own intoxication levels.