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Time to Attain Goal: Ryan Holmes Wants to Deposit $4,500

Question 40

Multiple Choice

Time to attain goal: Ryan Holmes wants to deposit $4,500 in a bank account that pays 8.25 percent annually. How many years will it take for his investment to grow to $10,000? (Round off to the nearest year.)


A) 8 years
B) 11 years
C) 10 years
D) 12 years

Correct Answer:

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