If $1,000 Is Invested in an Account with 9% Interest

question 1

Multiple Choice

If $1,000 is invested in an account with 9% interest compounding yearly, approximately how many years will it take for the amount to double? Please refer to the following Future Value table:

• A)Slightly more than 8 years
• B)Exactly 9 years
• C)5 years
• D)Slightly less than 7 years

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Definitions:

Skull

The bony structure forming the head in vertebrates, supporting the structures of the face and protecting the brain.

Death

The permanent cessation of all biological functions that sustain a living organism.

Heart Rate

The number of heartbeats per unit of time, typically expressed as beats per minute (bpm), which can vary depending on the body's physical needs.

Sympathetic

Pertaining to the sympathetic nervous system, a part of the autonomic nervous system responsible for stimulating the body's fight-or-flight response.