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

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

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: The Basic Tools Of Finance

Section: Chapter Questions

Problem 3CQQ

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