How many years will it take for $35 to grow to $53.87 if it is invested at 9% compounded annually?
A) 6.0
B) 5.5
C) 5.0
D) 4.0
Answer: C
Explanation: C) $53.87/$35 =1.539; FVIF 1.539, i = 9%, n = 5
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