Multiple Choice
The solution to this problem requires time value of money calculations. Reference to Tables 9-1 through 9-4 in the text is necessary to complete the calculations. Approximately how many years will it take for a sum invested at 8% with annual compounding to quadruple?
A) 81 years
B) 9 years
C) 18 years
D) 17 years
Correct Answer:
Verified
Correct Answer:
Verified
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