Loren Wants to Invest $\$ 6,500$ In a Fund at an Interest Rate Of

question 33

Multiple Choice

Loren wants to invest $\$ 6,500$ in a fund at an interest rate of $7.5 \%$ Per year, compounded monthly. How long will it take her investment to grow to $\$ 7,850 ?$

• A) \(2.5 \text { years }\)
• B) \(25 \text { years }\)
• C) \(0.5 \text { years }\)
• D) \(4.5 \text { years }\)
• E) \(1 \text { year }\)

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Definitions:

Net Molecular

Refers to the overall equation describing the reactants and products in a chemical reaction without including the ionic species individually.

Molecules

The smallest unit of a chemical compound that can exist; composed of two or more atoms held together by chemical bonds.

Hydrogen Bond

A fragile connection between two molecules caused by the electrostatic pull between a proton in one molecule and an atom with a strong electron attraction in the other.

Compound

A chemical entity that results from the combination of atoms from two or more different elements in a specific proportion and structure.