At the end of 2009 a student has $700 in a bank savings deposit that is earning an interest rate of 9 percent a year If the student leaves the savings account untouched, when will his deposit have grown to $1400? Gm If the student leaves the savings account untouched, his deposit will have grown to $1400 OA. after 16 years OB. by 2017 OC. after 4 years OD. by 2013

At the end of 2009 a student has $700 in a bank savings deposit that is earning an interest rate of 9 percent a year If the student leaves the savings account untouched, when will his deposit have grown to $1400? Gm If the student leaves the savings account untouched, his deposit will have grown to $1400 OA. after 16 years OB. by 2017 OC. after 4 years OD. by 2013

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter19: The Basic Tools Of Finance

Section: Chapter Questions

Problem 1CQQ

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At the end of 2009 a student has $700 in a bank savings deposit that is earning an interest rate of 3 percent a year. If the student leaves the savings account untouched, when will his deposit have grown to $1400? If the student leaves the savings account untouched, his deposit will have grown to $1400 O A. after 12 years O B. by 2032 C. after 47 years D. by 2021
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