Solved

An Initial Investment of $7000 Grows at an Annual Interest

Question 48

Multiple Choice

An initial investment of $7000 grows at an annual interest rate of 3% compounded continuously. How long will it take to double the investment?

A) 23.10 years
B) 24.10 years
C) 24.00 years
D) 23.00 years
E) 1 year

Related Questions

Q38: Identify the operation that will transform the

Q39: Approximate the solution to <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8702/.jpg" alt="Approximate

Q40: Solve <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8702/.jpg" alt="Solve for

Q41: The chemical acidity of a solution is

Q42: Simplify the expression <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8702/.jpg" alt="Simplify the

Q43: Evaluate the logarithm <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8702/.jpg" alt="Evaluate the

Q44: An investment is expected to pay 5%

Q45: Evaluate the function <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8702/.jpg" alt="Evaluate the

Q46: Identify the x-intercept of the function <img

Q47: Identify the graph that represents the function.