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Compute the Compound Interest $5900\$ 5900 Be in a Bank At 6%6 \%

Question 184

Multiple Choice

Compute the compound interest.
-How long must $5900\$ 5900 be in a bank at 6%6 \% compounded annually to become $9967.93\$ 9967.93 ? (Round to the nearest year.)


A) 9yr9 \mathrm{yr}
B) 8yr8 \mathrm{yr}
C) 10yr10 \mathrm{yr}
D) 11yr11 \mathrm{yr}

Correct Answer:

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