How Many Years (And Months) Will It Take $1 Million

question 138

Multiple Choice

How many years (and months) will it take $1 million to grow to $3 million with an annual interest rate of 7.5 percent?

• A)15 years and 2.29 month
• B)17 years and 5.6 months
• C)18 years and 3.8 months
• D)19 years and 2.4 months

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Definitions:

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