When you were born, your parents opened an investment account in your name and deposited $1,500 into the account. The account has earned an average annual rate of return of 5.3 percent. Today, the account is valued at $42,856. How old are you?

a. 71.47 years
b. 70.67 years
c. 61.08 years
d. 67.33 years
e. 64.91 years

Ans: e. 64.91 years

Business

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