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You Deposit $1,000 in a Long-Term Certificate of Deposit with an Interest

Question 57

Multiple Choice

You deposit $1,000 in a long-term certificate of deposit with an interest rate of 9%. How many years will it take for you to triple your deposit? Pick the closest answer.


A) 11 years
B) 12 years
C) 13 years
D) 14 years

Correct Answer:

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