Multiple Choice
Time to attain goal: Cheryl Merriweather wants to invest in a bank term deposit that will pay her 7.8 percent annually. If she is investing $11,500 today, when will she reach her goal of $15,000? (Round off to the nearest year.)
A) 5 years
B) 7 years
C) 2 years
D) 4 years
Correct Answer:
Verified
Correct Answer:
Verified
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