At the end of 2007 a student has $200 in a bank savings deposit that is earning an interest rate of 5 percent a year. If the student leaves the savings account untouched, when will his deposit have grown to $400? If the student leaves the savings account untouched, his deposit will have grown to $400 O A. by 2021 B. after 28 years O C. by 2035 O D. after 7 years

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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At the end of 2007 a student has $200 in a bank savings deposit that is earning an interest rate of 5 percent a year.
If the student leaves the savings account untouched, when will his deposit have grown to $400?
If the student leaves the savings account untouched, his deposit will have grown to $400
O A. by 2021
B. after 28 years
O C. by 2035
O D. after 7 years
Transcribed Image Text:At the end of 2007 a student has $200 in a bank savings deposit that is earning an interest rate of 5 percent a year. If the student leaves the savings account untouched, when will his deposit have grown to $400? If the student leaves the savings account untouched, his deposit will have grown to $400 O A. by 2021 B. after 28 years O C. by 2035 O D. after 7 years
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