How Long Will It Take $5,000 to Grow to $6,500

question 90

Multiple Choice

How long will it take $5,000 to grow to $6,500 if the investment earns interest at the rate of 13% / year compounded monthly?

• A) 1.9 year(s)
• B) 1.7 year(s)
• C) 1.6 year(s)
• D) 2.0 year(s)

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Definitions:

Upper-Class

A social group at the top of a societal hierarchy, often possessing substantial wealth, power, and influence.

Influential

Having the power to have an effect on people or things, or to shape decisions, opinions, and actions.

Caste System

A traditional form of social stratification characterized by hereditary transmission of a lifestyle, occupation, and social status.

Accumulating Wealth

The process of gathering and increasing assets, finances, and property over time, usually for the purpose of personal financial security or prestige.