Multiple Choice
A $7 million deposit earns 5 percent for nine years. If the account loses 2 percent per year after that, how long will it take to be reduced back to $7 million?
A) 6.78 years
B) 10.29 years
C) 11.29 years
D) 21.74 years
Correct Answer:
Verified
Correct Answer:
Verified
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