Solved

How Long Does It Take for an Amount of Money

Question 171

Multiple Choice

How long does it take for an amount of money P to double itself if it is invested at 6% interest compounded 4 times a year?


A) It will take approximately 11.33 years.
B) It will take approximately 12.43 years.
C) It will take approximately 10.49 years.
D) It will take approximately 1.89 years.
E) It will take approximately 11.64 years.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q166: Simplify. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8808/.jpg" alt="Simplify. A)

Q167: Simplify. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8808/.jpg" alt="Simplify. A)

Q168: Simplify. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8808/.jpg" alt="Simplify. A)

Q169: Solve the exponential equation. Round your answer

Q170: For the following one-to-one function, find the

Q172: Let <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8808/.jpg" alt="Let and

Q173: How long does it take for an

Q174: Simplify the following expression. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8808/.jpg" alt="Simplify

Q175: Use properties of logarithms to expand the

Q176: For <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8808/.jpg" alt="For ,