How Long Will It Take $30,000 to Quadruple If It

question 9

Multiple Choice

How long will it take $30,000 to quadruple if it is invested in a savings account that pays 3.5% annual interest compounded continuously? Round to the nearest year.

• A)40 years
• B)42 years
• C)39 years
• D)38 years
• E)37 years

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Definitions:

Commune Movement

The Commune Movement involves groups of people living together, sharing possessions and responsibilities, often with a common political or social ideology, notably popular in the 1960s and 1970s.

Easy Rider

A 1969 American road film that became a symbol of freedom and the counterculture of the 1960s, directed by Dennis Hopper and starring Peter Fonda and Dennis Hopper.

Sit-in

A form of protest where individuals occupy an area, refusing to leave as a way to demand attention to a cause or injustice.

Assassination

The act of killing a prominent individual, often for political or ideological reasons.