Solved

How Long Will It Take $20,000 to Double If It

Question 6

Multiple Choice

How long will it take $20,000 to double if it is invested in a savings account that pays 5.5% annual interest compounded continuously? Round to the nearest year.


A) 19 years
B) 8 years
C) 11 years
D) 12 years
E) 13 years

Correct Answer:

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