How Long Did It Take for $1635 to Increase to $2310

question 27

Multiple Choice

How long did it take for $1635 to increase to $2310 if the investment earned interest at a rate of 8.08% compounded quarterly (give your final answer in years and months, e.g., 3 years and 7.23 months) ?

• A) 7 years 7.69 months
• B) 4 years .64 months
• C) 3 years 4.79 months
• D) 4 years 3.84 months
• E) 8 years 1.69 months

---

Definitions:

Internal Work Motivation

The personal drive or intrinsic desire to undertake work tasks effectively, originating from within an individual.

Critical Psychological State

A mental condition integral to the Job Characteristics Model that impacts an employee's motivation, satisfaction, and performance based on core job dimensions.

Job Characteristics Theory

A theory that identifies five core job characteristics (skill variety, task identity, task significance, autonomy, and feedback) that affect job satisfaction, motivation, and performance.

German Approach

A term that might refer to the rigorous and detailed methodology often associated with German practices in business, engineering, or other fields, but without a specific context it is hard to define precisely.