You just won $50,000 and deposited your winnings into an account that pays 5.5 percent interest,compounded annually.How long will you have to wait until your winnings are worth $100,000?
A) 11.24 years
B) 12.00 years
C) 12.29 years
D) 12.67 years
E) 12.95 years
Correct Answer:
Verified
Q5: Given an interest rate of zero percent,
Q16: Tom earned $120 in interest on his
Q17: Lisa has $1,000 in cash today.Which one
Q18: Jeff deposits $3,000 into an account which
Q19: Which one of the following is the
Q22: When you were born,your parents opened an
Q23: Precision Engineering invested $110,000 at 6.5 percent
Q24: Which one of the following is the
Q25: Twelve years ago,you deposited $3,400 into an
Q26: Your grandparents just gave you a gift
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents