Solved

You Have $10,000 That You Can Invest in a Savings

Question 71

Multiple Choice

You have $10,000 that you can invest in a savings account that earns 7% interest, compounded annually. If you want to withdraw at least $18,000 at some point in the future, how long will you need to keep the money invested?


A) 9 years
B) 10 years
C) 11 years
D) 12 years

Correct Answer:

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