How Many Years Would It Take $50 to Triple If

question 22

Multiple Choice

How many years would it take $50 to triple if it were invested in a bank that pays 3.8% per year?

• A)25.26
• B)26.58
• C)27.98
• D)29.46

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Definitions:

Net Assets

The total assets of a company minus its total liabilities, reflecting the company's financial position at a specific point in time.

Acquisition

Taking over another corporation by buying out its equity or assets.

Fair Value

The approximate value for which an asset or liability might be exchanged in an equitable deal between consenting parties, excluding scenarios of compelled or liquidation sales.

Subsidiary Consolidated

A process where the financial statements of a subsidiary are integrated with those of its parent company for reporting purposes, treating the two entities as a single economic entity.