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Solve the Problem. -How Long Will It Take for $4700 to Grow to to Grow

Question 177

Multiple Choice

Solve the problem.
-How long will it take for $4700 to grow to $47,300 at an interest rate of 1.7% if the interest is compounded quarterly? Round the number of years to the nearest hundredth.


A) 544.44 yr
B) 136.11 yr
C) 593.25 yr
D) 136.97 yr

Correct Answer:

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