Multiple Choice
A $2 million deposit earns 7 percent for 13 years. If the account earns 9 percent per year forever after that, how long will it take to grow to $5 million?
A) Zero; the account exceeds $5 million after 13 years
B) 0.26 years
C) 0.43 years
D) 1.18 years
Correct Answer:
Verified
Correct Answer:
Verified
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