You Invest $200 at 7% Per Annum Compounded Quarterly

question 10

Multiple Choice

You invest $200 at 7% per annum compounded quarterly. How long will it take for your balance to exceed $300? (Round your answer up to the next quarter.)

• A) 6 quarters
• B) 18 quarters
• C) 24 quarters
• D) 23 quarters
• E) 13 quarters

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Definitions:

Sexual Desires

The natural or emotional urge that leads to sexual interest or attraction towards others.

Empty-nest Syndrome

A feeling of loneliness or depression that may occur among parents after their children have grown up and left home.

Androgens

Hormones that stimulate or control the development and maintenance of male characteristics in vertebrates by binding to androgen receptors.

Pepsinogens

Precursor enzymes produced by the stomach that, when activated, play a key role in breaking down proteins during digestion.