If You Presently Have $6,000 Invested at a Rate of 15%,how

question 27

Multiple Choice

If you presently have $6,000 invested at a rate of 15%,how many years will it take for you investment to triple? (Round up to obtain a whole number of years if necessary.)

• A) 2
• B) 4
• C) 6
• D) 8
• E) 10

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Definitions:

Exponential Distribution

The exponential distribution is a continuous probability distribution that describes the time between events in a Poisson process, where events occur continuously and independently at a constant average rate.

Exponentially Distributed

It refers to a type of continuous probability distribution that describes the time between events in a Poisson point process, where events occur continuously and independently at a constant average rate.

Parameter λ

A specific numerical or symbolic constant used in mathematics and statistics to represent a characteristic or value in a general function or equation.

Normally Distributed

Describes a symmetrical, bell-shaped distribution of data where most of the observations cluster around the central peak and the probabilities for values farther away from the mean taper off equally in both directions.