Multiple Choice
Use the formula 
to find the doubling time t, in years, for an investment at r% compounded n times per year. Suppose you make an investment of $1,300 at interest rate 11% compounded quarterly. How long will it take for your investment to double? Round your answer to two decimal places.
A) 2.13 years
B) 12.78 years
C) 3.19 years
D) 3.32 years
E) 6.39 years
Correct Answer:
Verified
Correct Answer:
Verified
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