How Long Will It Take to Double Your Savings If

question 39

Multiple Choice

How long will it take to double your savings if you earn 6.4 percent interest, compounded annually?

• A)11.89 years
• B)12.02 years
• C)11.39 years
• D)11.17 years
• E)10.58 years

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Definitions:

Frequency

The number of cycles completed by a sound wave in one second, determining the pitch of the sound; expressed in the unit called the hertz.

Researchers

Individuals who conduct systematic investigations to establish facts or principles or to collect information on a subject.

Heterosexuality

A sexual preference that involves being romantically or sexually attracted to people of the opposite gender.

Homosexuals

Individuals who are sexually attracted to members of the same sex.