You Just Won $30,000 and Deposited Your Winnings into an Account

question 62

Multiple Choice

You just won $30,000 and deposited your winnings into an account that pays 3.9 percent interest,compounded annually.How long will you have to wait until your winnings are worth $75,000?

• A)21.24 years
• B)25.00 years
• C)22.29 years
• D)22.67 years
• E)23.95 years

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Definitions:

Status Acceptance

refers to the act of acknowledging and embracing one's position or rank within a social hierarchy or group.

Group Member

A person who belongs to a specific group or team aimed at achieving common goals.

Groups

Assemblies of individuals who come together for a common purpose, often to share interests or achieve specific goals.

Expert Power

Influence based on the perception that someone has valuable knowledge or skills in a particular area.