Solve. -How Long Must $5400 Be in a Bank at 5

question 101

Multiple Choice

Solve.
-How long must $5400 be in a bank at 5% compounded annually to become $9697.62? (Round to the nearest year.)

• A) 14 yr
• B) 12 yr
• C) 13 yr
• D) 11 yr

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Definitions:

Talk Therapy

A form of psychotherapy that involves discussing thoughts, feelings, and behaviors with a mental health professional to address and manage mental health issues.

Prefrontal Lobotomy

A surgical procedure used in the past to treat certain mental disorders, involving the severing of connections in the brain's prefrontal cortex, now largely discredited due to its serious side effects and ethical concerns.

Egas Moniz

A Portuguese neurologist who is credited with the development of cerebral angiography and the controversial prefrontal leucotomy, for which he was awarded the Nobel Prize in Physiology or Medicine in 1949.

Dormitory-Like Facility

A residential setup where individuals share living quarters and resources, often associated with colleges or boarding schools.