Multiple Choice
You win $1,000 today, which happens to be your 20th birthday. You decide to deposit this money in an account and plan to add $1,000 to it each year on your birthday beginning one year from today. If you earn 10 percent per year in the account, how long will it take to grow to $750,000?
A) 23.17 years
B) 32.87 years
C) 44.44 years
D) 51.38 years
Correct Answer:
Verified
Correct Answer:
Verified
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