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

question 143

Multiple Choice

If Billy Pierce invests $1,000 at the end of each year at 9% compounded annually, how many years will it take until his investment reaches above $10,000?

• A)5 years
• B)6 years
• C)7 years
• D)8 years

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Definitions:

Tragedy Of The Commons

A situation where individuals, acting independently according to their own self-interest, deplete or spoil shared resources, leading to long-term collective loss.

Overfishing

The practice of harvesting fish from bodies of water at a faster rate than they can reproduce, leading to population declines.

Turtle Exclusion Devices

Tools fitted to fishing nets that allow turtles to escape, thus reducing turtle bycatch in fishing operations.