How Long Will It Take a $100 Deposit to Increase

question 7

Multiple Choice

How long will it take a $100 deposit to increase to $200 if the rate of interest is 4 percent?

• A)10 years
• B)18 years
• C)25 years
• D)30 years
• E)15 years

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Definitions:

Reject the Offer

The act of declining a proposal or bid, potentially in negotiations, contracts, or transactions.

Accept the Offer

Agreeing to the terms or conditions presented in an offer, thereby entering into a binding contract.

Contractual Capacity

The threshold mental capacity required by law for a party who enters into a contract to be bound by that contract.

Contract

A contract is a legally binding agreement between two or more parties, enforceable by law.