10
QuizMultiple Choice

Compound Interest — Unit test

Question 10 • 26-27 Ignite Technical Math-Financial Math - MA2007

If you invest $8,600 at a 3.95% simple annual interest rate, approximately how long will it take for you to have a total of $21,000? a. 25.3 years b. 36.5 years c. 45.9 years d. 60.7 years Please select the best answer from the choices provided

Answer
A
A
B
B
C
C
D
D
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If you invest $8,600 at a 3.95% simple annual…