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Solve the Problem. -How Long Must $5000 Be in a Bank at 8

Question 50

Multiple Choice

Solve the problem.
-How long must $5000 be in a bank at 8% compounded annually to become $11,658.19? (Round to the nearest year.)

A) 13 yr
B) 11 yr
C) 10 yr
D) 12 yr

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