Solving for Time How Many Years Will It Take $1

question 75

Multiple Choice

Solving for Time How many years will it take $1 million to grow to $3 million with an annual interest rate of 7 percent?

• A)10.29 years
• B)14.52 years
• C)16.24 years
• D)33.33 years

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Definitions:

Relationship

The way in which two or more concepts, objects, or people are connected, or the state of being connected.

Rewarding

Providing a positive benefit or reinforcement following a desired behavior, thereby increasing the likelihood of its future occurrence.

Learned Optimism

The concept of developing a more positive outlook on life through techniques that challenge and change negative beliefs and attitudes.

Internal/External

Refers to perspectives, influences, or factors originating from within or from outside an entity.