How Many Years (And Months) Will It Take $1 Million

question 138

Multiple Choice

How many years (and months) will it take $1 million to grow to $3 million with an annual interest rate of 7.5 percent?

• A)15 years and 2.29 month
• B)17 years and 5.6 months
• C)18 years and 3.8 months
• D)19 years and 2.4 months

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Definitions:

Personality

The unique set of emotional, thought, and behavioral patterns that define an individual.

Ecological Approach

A perspective or methodological approach that emphasizes the complex interrelations between organisms and their environment.

Cross-cultural Differences

Variations in the norms, values, and practices among different societies or ethnic groups.

Deconstructionist Perspective

An analytical approach that seeks to understand texts, theories, or institutions by revealing inherent contradictions and questioning established interpretations.