Solve the Problem. -Assume That a Savings Account Earns Interest at the Rate

question 185

Multiple Choice

Solve the problem.
-Assume that a savings account earns interest at the rate of 2% compounded monthly. If this account contains $1000 now, how many months will it take for this amount to double if no withdrawals are made?

• A) 417 months
• B) 12 months
• C) 408 months
• D) 450 months

---

Definitions:

Environmental Conditions

Various factors or circumstances in the environment that can affect living organisms, including temperature, humidity, and pollution levels.

Nucleotides

The basic building blocks of DNA and RNA, consisting of a sugar, a phosphate, and a nitrogenous base.

Phenotype

The set of observable characteristics or traits of an organism that result from the interaction of its genotype with the environment.

Morphological Structure

The form and structure of organisms or specific structures of an organism.