If Billy Pierce Invests $1,000 at the End of Each

question 38

Multiple Choice

If Billy Pierce invests $1,000 at the end of each year for 8 years, and he wants it to grow to at least $10,000, what interest rate would be needed?

• A)4%
• B)5%
• C)6%
• D)7%

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Definitions:

Ethanol

A type of alcohol found in alcoholic beverages, produced by the fermentation of sugars.

Major Organic Product

The main yield of an organic chemical reaction, distinguished by its premier volume.

Conversion

In chemistry, refers to the process of changing one chemical compound into another through a chemical reaction.

Major Organic Product

The main compound generated in the greatest amount in an organic chemistry reaction.