Jack Jones Wants to Buy a One-Way Bus Ticket to Kings

question 63

Multiple Choice

Jack Jones wants to buy a one-way bus ticket to Kings Canyon.The ticket costs $142, but Jack has only $80.If Jack puts the money in an account that pays 9% interest compounded monthly, how many months must Jack wait until he has $142 (round to the nearest month) ?

• A)73 months
• B)75 months
• C)77 months
• D)79 months

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Definitions:

Balance Sheet

A financial statement that displays a company's financial position at a specific point in time, detailing assets, liabilities, and shareholders' equity.

Income Statement

A financial report that shows a company's revenues, expenses, and net income over a specific period.

Investee

A company or entity in which an investment is made, typically signifying a minority interest.

Progressives

Advocates for social reform and political change aimed at improving the conditions and fairness of society, historically seen in movements for labor rights, suffrage, and elimination of corruption.