Uncle Fester Puts $50,000 into a Bank Account Earning 6

question 68

Multiple Choice

Uncle Fester puts $50,000 into a bank account earning 6%.You can't withdraw the money until the balance has doubled.How long will you have to leave the money in the account?

• A) 9 years
• B) 10 years
• C) 11 years
• D) 12 years

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Definitions:

Diagram

A simplified drawing or plan that represents the components or workings of something, showing how it operates or how it is structured.

Low Voltages

Electrical systems or components designed to operate at relatively low voltages, typically below 1000 volts.

High Voltages

Electrical voltages significantly higher than those used in standard residential applications, often exceeding 1000 Volts.

Coil Winding Leads

The ends of the wire used in coil windings, serving as connections points for electrical current to enter or leave the coil.