You Have $50,000 in Your Account

question 144

Multiple Choice

You have $50,000 in your account. Assuming no additional deposits are made and your account earns 8 percent per year, how long will it take for the account to have a balance of $500,000?

• A) 28.83 years
• B) 29.92 years
• C) 50.00 years
• D) 90.00 years

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Definitions:

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An individual who guides, directs, or commands a group, often within contexts like therapy groups, educational settings, or team projects.

Follower

An individual who supports and is guided by another person or by a group, ideology, or trend.

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To be present or participate in a particular event or activity.