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# (Originais Teachy 2023) - Question Medium of Economics

Sarah is a 9th-grade student who has been saving money from her part-time job to buy a new bicycle. She currently has \$500 and the bicycle she wants costs \$600. Her bank offers a savings account with an annual interest rate of 5%. Considering that she will not make any additional deposits, how long will it take for her savings to reach the price of the bicycle?
a.
It will take approximately 4 years for Sarah's savings to reach the price of the bicycle, considering that she will not make any additional deposits.
b.
It will take approximately 3 years for Sarah's savings to reach the price of the bicycle, considering that she will not make any additional deposits.
c.
It will take approximately 5 years for Sarah's savings to reach the price of the bicycle, considering that she will not make any additional deposits.
d.
It will take approximately 2 years for Sarah's savings to reach the price of the bicycle, considering that she will not make any additional deposits.
e.
It will take approximately 6 years for Sarah's savings to reach the price of the bicycle, considering that she will not make any additional deposits.

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