Question

You deposit a sum of $P into a bank account today. If you want the account...

You deposit a sum of $P into a bank account today. If you want the account balance to triple in 20 years, what should be the annual compound interest rate?

A. 3.6%

B. 5.0%

C. 5.6%

D. 3.0%

Homework Answers

Answer #1

Option C

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