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 $1300 at interest rate 12% compounded quarterly. How long will it take for your investment to double?
A) 3.06 years
B) 1.95 years
C) 11.72 years
D) 0.76 years
E) 5.86 years
Correct Answer:
Verified
Correct Answer:
Verified
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