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Solve the Problem. -Suppose That $8000 Is Invested at an Interest Rate of Interest

Question 118

Multiple Choice

Solve the problem.
-Suppose that $8000 is invested at an interest rate of 5.5% per year, compounded continuously. How long would it take to double the investment?


A) 12.6 yr
B) 11.6 yr
C) 2 yr
D) 13.6 yr

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