211.8.3 Quiz: Retirement
Question 8 of 10
Peter decides to invest $1,200,000 in a period annuity that earns 4.6% APR
compounded monthly for a period of 20 years. How many years will it take
Peter to earn back his initial investment?
OA. 12 years
B. 13.1 years
O C. 12.5 years
OD. 11.3 years