Multiple Choice
How long will it take for $600 to double if it is invested at 9% annual interest compounded 12 times a year?
A) It will take approximately 11.1 years.
B) It will take approximately 8.8 years.
C) It will take approximately 7.7 years.
D) It will take approximately 7.4 years.
E) It will take approximately 8.4 years.
Correct Answer:
Verified
Correct Answer:
Verified
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