If You Invest $1,000 in a Savings Account and the Annual

question 20

Multiple Choice

If you invest $1,000 in a savings account and the annual interest rate is 3.6 percent, your account balance will double in value in approximately _____.

• A) 185 years
• B) 72 years
• C) 34 years
• D) 20 years
• E) 3.4 years