Phil Has $2,000 and He Needs It to Grow to $4,000

question 125

Multiple Choice

Phil has $2,000 and he needs it to grow to $4,000 in 8 years.Assuming he adds no more money to this fund,what rate of return would he need to earn?

• A)6%
• B)7%
• C)8%
• D)9%
• E)10%

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Definitions:

Nonrestrictive

Describing a clause or phrase that provides additional information without limiting the meaning of the sentence.

Nonrestrictive Clause

A type of clause in a sentence that provides additional information but does not limit or restrict the meaning of the main clause.

Restrictive

A term describing clauses, rules, or adjectives that limit or define the entities they refer to more narrowly.

Nonrestrictive

A term or clause that provides additional information without limiting or defining the subject in question, and is often set off by commas.