How Long Will It Take for a $1,000 Investment to Grow

question 17

Multiple Choice

How long will it take for a $1,000 investment to grow to $3,000 if the interest rate per year is 8%, and interest is paid only at the end of each year?

• A)13 years
• B)15 years
• C)14 years
• D)12 years

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Definitions:

Conspiracy

A secret plan by a group to do something unlawful or harmful, or the act of creating such plans.

Arson

The criminal act of deliberately setting fire to property, often with malicious intent.

Domestic Slave Trade

The trade of slaves within the borders of a country, such as the internal slave trade in the United States before the Civil War.

Slave Families

Family units that were formed by enslaved individuals under conditions of slavery, often facing forcible separations and restrictions.