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If $4,000 Is Invested at 7% Compounded Annually, How Long

Question 46

Multiple Choice

If $4,000 is invested at 7% compounded annually, how long will it take for it to grow to $6,000, assuming no withdrawals are made? Compute answer to the next higher year if not exact.
If $4,000 is invested at 7% compounded annually, how long will it take for it to grow to $6,000, assuming no withdrawals are made? Compute answer to the next higher year if not exact. A) 6 years B) 2 years C) 8 years D) 5 years


A) 6 years
B) 2 years
C) 8 years
D) 5 years

Correct Answer:

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