Multiple Choice
If an investment pays 7% interest and you invest $1,000, about how long will it take you to double your money?
A) 6 years
B) 7 years
C) 8 years
D) 9 years
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q59: Which of the following statements is false?<br>A)
Q60: The interest rate determined by multiplying the
Q61: Money has a time value so long
Q62: James plans to fund his individual retirement
Q63: If the stated or nominal interest rate
Q65: Future value = Present value + (1
Q66: Tracey deposits $5,000 in a five-year certificate
Q67: A loan that is repaid in equal
Q68: For a given discount rate, an ordinary
Q69: The annual percentage rate (APR) overstates the