How Long Does It Take for $6,000 Invested at 9

question 16

Multiple Choice

How long does it take for $6,000 invested at 9% annual simple interest to be worth $10,500? Round your answer to two decimal places. ​

• A) 30.56 years
• B) 83.33 years
• C) 8.33 years
• D) 4.76 years
• E) 0.83 years

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Definitions:

Misinformation

False or inaccurate information that is spread, intentionally or unintentionally, which can influence memory and perception.

Distress

Acute stress or discomfort resulting from situations perceived as threatening or overwhelming.

Misinformation Effect

Information received from others about an event that can alter a memory to conform to the information received from other people.

Plausibility

The quality of appearing to be reasonable or probable, often used in the context of arguments or theories.