A High-Yield Savings Pays 20% Interest, Compounded Continuously

question 53

Multiple Choice

A high-yield savings pays 20% interest, compounded continuously. How long would it take an initial investment of $2500 to grow to $20,000?

• A) 1.04 years
• B) 103.972 years
• C) 10.397 years
• D) 14.979 years
• E) none of these

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Definitions:

Loosely Schedule

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The ability to identify new business opportunities or ideas that could be viable for investment or development.

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A leadership style that combines elements of flexibility and strict control, allowing for innovation while maintaining order.