Multiple Choice
You will receive $4,000 at graduation 3 years from now. You plan on investing this money at 5 percent annual interest until you have accumulated $50,000. How many years from today will it be when this occurs?
A) 51.42 years
B) 49.08 years
C) 54.77 years
D) 48.42 years
E) 51.77 years
Correct Answer:
Verified
Correct Answer:
Verified
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