Multiple Choice
California Investors recently advertised the following claim: Invest your money with us at 21%, compounded annually, and we guarantee to double your money sooner than you imagine. Ignoring taxes, how long would it take to double your money at a nominal rate of 21%, compounded annually?
A) 330 years
B) 3.6 years
C) 9.5 years
D) 4.8 years
Correct Answer:
Verified
Correct Answer:
Verified
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