At 6 Percent Compounded Monthly,how Long Will It Take to Triple

question 92

Multiple Choice

At 6 percent compounded monthly,how long will it take to triple your money?

• A) 221 months
• B) 175 months
• C) 102 months
• D) 48 months

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Definitions:

Firmly Attached

Pertains to property or equipment that is fixed or securely fastened to a location or structure, often impacting legal status or taxation.

Joint Tenancy

A form of co-ownership where two or more persons hold equal shares of a property with rights of survivorship, meaning when one owner dies, their share automatically passes to the remaining owner(s).

Tenants

Individuals or entities that occupy property or land rented from a landlord and are subject to the terms of a lease.

Tenancy in Common

A form of joint ownership of property in which each owner holds an undivided interest without right of survivorship.