How Long Will It Take $50,000 Placed in a Savings

question 61

Multiple Choice

How long will it take $50,000 placed in a savings account at 10% interest to grow into $75,000?

• A) 4.25 years
• B) 3.25 years
• C) 5.25 years
• D) 6.25 years

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Definitions:

Return on Total Assets

A financial ratio that measures the efficiency of a company's use of its assets to generate profit, calculated by dividing net income by total assets.

Available-for-sale Securities

Financial assets that are not classified as held-to-maturity or trading securities, and can be sold in the market.