Use the Compound Interest Formula to Determine How Long

question 92

Multiple Choice

Use the compound interest formula to determine how long it would take $2150 to grow to $6050 if the annual rate is 5% and interest is compounded monthly. Round your answer to the nearest tenth.

• A) 20.3 years
• B) 20.5 years
• C) 20.7 years
• D) 20.9 years

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Definitions:

Lean Body Mass

The mass of the body minus the fat content; it includes muscles, bones, organs, and water.

Anorexia Nervosa

A psychological eating disorder characterized by an extreme fear of gaining weight, leading to severe restriction of food intake and malnourishment.

Amenorrhea

is a medical condition characterized by the absence of menstruation in someone of reproductive age, which can be caused by a variety of factors.

Bingeing And Purging

Engaging in episodes of excessive eating followed by attempts to avoid weight gain using methods such as self-induced vomiting, known as bulimia nervosa.