Multiple Choice
Solve the problem.
-How long will it take for $1100 to grow to $4800 at an interest rate of 10.9% if the interest is compounded quarterly? Round the number of years to the nearest hundredth.
A) 54.80 yr
B) 13.70 yr
C) 40.58 yr
D) 14.24 yr
Correct Answer:
Verified
Correct Answer:
Verified
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