The Number of Quarters Needed to Double an Investment When $\mathrm { n } = \frac { \ln 2 } { \ln 1.01 }$

Multiple Choice

The number of quarters needed to double an investment when a lump sum is invested at 4%, compounded quarterly, is given b $\mathrm { n } = \frac { \ln 2 } { \ln 1.01 }$ . In how many years will the investment double, to the nearest tenth of a year?

A) 17.4 yr
B) 8.7 yr
C) 34.8 yr
D) 69.7 yr