Solving for Time How Long Will It Take $4,000 to Reach

question 73

Multiple Choice

Solving for Time How long will it take $4,000 to reach $4,500 when it grows at 8 percent per year?

• A)1.12 years
• B)1.48 years
• C)1.53 years
• D)9.00 years

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Definitions:

Strike

A collective action taken by employees refusing to work, aiming to gain concessions from their employer, typically related to wages, benefits, or working conditions.

Wrongful Acts

Actions or behaviors that are illegal or morally incorrect.

Employer

An individual or organization that hires and pays for the services of workers or employees.

Employee

An employee is an individual who has entered into or works under the terms of a contract of employment, whether implied or explicit, providing work or services in exchange for compensation.