At the end of 2007 a student has $400 in a bank savings deposit that is earning an interest rate of 8 percent a year. If the student leaves the savings account untouched, when will his deposit have grown to $800? If the student leaves the savings account untouched, his deposit will have grown to $800 O A. after 18 years O B. by 2016 O C. by 2011 D. after 4 years

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter5: Business And Economic Forecasting
Section: Chapter Questions
Problem 2E
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At the end of 2007 a student has $400 in a bank savings deposit that is earning an interest rate of 8 percent a year.
If the student leaves the savings account untouched, when will his deposit have grown to $800?
If the student leaves the savings account untouched, his deposit will have grown to $800
O A. after 18 years
O B. by 2016
O C. by 2011
O D. after 4 years
Click to select your answer.
Transcribed Image Text:At the end of 2007 a student has $400 in a bank savings deposit that is earning an interest rate of 8 percent a year. If the student leaves the savings account untouched, when will his deposit have grown to $800? If the student leaves the savings account untouched, his deposit will have grown to $800 O A. after 18 years O B. by 2016 O C. by 2011 O D. after 4 years Click to select your answer.
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