1. Today you deposit X dollars to your savings account and
make no additional deposits. How long will it take to double your
savings if you earn 3.6 percent interest, compounded
annually?
A. 17.78 years
B. 18.04 years
C. 18.67 years
D. 19.42 years
E. 19.60 years
2. Today, you are retiring. You have a total of $413,926 in
your retirement savings and have the funds invested such that you
expect to earn an average of 3%, compounded monthly, on this money
throughout your retirement years. You want to withdraw $2,500 at
the beginning of every month, starting today. How long will it be
until you run out of money?
A. 211.00 months
B. 213.29 months
C. 213.99 months
D. 214.84 months
E. 214.94 months
1. Today you deposit X dollars to your savings account and make no additional deposits. How long will it take to double
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