Solve the problem.
-If $4,000 is invested at 7% compounded annually, how long will it take for it to grow to $6,000, assuming no withdrawals are made? Compute answer to the next higher year if not exact.
A) 6 years
B) 5 years
C) 2 years
D) 8 years

Question

Solve the problem.
-If $4,000 is invested at 7% compounded annually, how long will it take for it to grow to $6,000, assuming no withdrawals are made? Compute answer to the next higher year if not exact. 
A) 6 years 
B) 5 years 
C) 2 years 
D) 8 years

Quizplus · Accepted Answer

The Answer of Solve the problem.
-If $4,000 is invested at 7% compounded annually, how long will it take for it to grow to $6,000, assuming no withdrawals are made? Compute answer to the next higher year if not exact. 
A) 6 years 
B) 5 years 
C) 2 years 
D) 8 years

Solve the Problem. -If $4,000 Is Invested at 7% Compounded Annually, How Long