Faisal Has $15,000 in His Savings Account and Can Save

question 40

Multiple Choice

Faisal has $15,000 in his savings account and can save an additional $5000 per year.If interest rates are 12%,how long will it take his savings to grow to $50,000?

• A)2 years
• B)3 years
• C)4 years
• D)5 years

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Definitions:

Mediation

A form of alternative dispute resolution where a neutral third party helps disputing parties find a mutually satisfactory resolution.

Counterclaim

A legal claim brought against the plaintiff by the defendant, typically in response to the original lawsuit.

Affirmative Defense

A defense in which the defendant introduces evidence, which, if found to be credible, will negate criminal or civil liability, even if it is proven that the defendant committed the alleged acts.

Plaintiff

The party who initiates a lawsuit by filing a complaint with the court.