At Approximately What Rate Would You Have to Invest a Lump-Sum

question 2

Multiple Choice

At approximately what rate would you have to invest a lump-sum amount today if you need the amount to triple in six years? Assume interest is compounded annually.

• A)20%
• B)12%
• C)24%
• D)Not enough information is provided to answer the question.
• E)None of the above is a correct answer.

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Heavy Users

Consumers who purchase and use products or services far more frequently than the average customer, often contributing disproportionately to sales and profits.

Total Demand

The entire quantity of a product or service that consumers in a market are willing and able to purchase at various prices during a specified period.

Rule

A prescribed guideline for conduct or action established by an authority.

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Data that describes the characteristics of a specific population, such as age, sex, income level, and education.