If a $30 investment is worth $90 today, how long ago must that $30 have been invested at 6% interest computed twice a year?
A) That $30 must have been invested approximately 19.73 years ago.
B) That $30 must have been invested approximately 19.37 years ago.
C) That $30 must have been invested approximately 18.27 years ago.
D) That $30 must have been invested approximately 20.08 years ago.
E) That $30 must have been invested approximately 18.58 years ago.
Correct Answer:
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