You Deposit $10,000 in an Account That Doubles in "6

question 78

Multiple Choice

You deposit $10,000 in an account that doubles in "6" years. How many years will it take the account to be reduced to its original value if it loses 10 percent per year?

• A) 6.00 years
• B) 6.58 years
• C) 7.27 years
• D) 10.00 years

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Definitions:

Adolescent Egocentrism

A characteristic of adolescent thinking that leads to self-consciousness, as teens believe that their actions and appearance are constantly being scrutinized by others.

Self-consciousness

An acute sense of self-awareness that is marked by self-reflection and the awareness of how one is perceived by others.

Hypothetical-deductive Reasoning

A type of logical thinking that involves forming hypotheses and systematically testing them to deduce conclusions.

Scientific Inquiry

A systematic process of investigation and experimentation used to explore observations and answer questions about the natural world.