At an Effective Annual Interest Rate of 20 Percent,how Many

question 112

Multiple Choice

At an effective annual interest rate of 20 percent,how many years will it take a given amount to triple in value? (Round to the closest year. )

• A) 5
• B) 8
• C) 6
• D) 10
• E) 9

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Definitions:

Total Revenue

A company's aggregate income from product sales and service charges within a set timeframe.

Variable Costs

Expenditures that shift in accordance with the scale of output or level of production activities.

Total Revenue

The income that a company generates from its business activities, typically from the sale of goods and services before any expenses are deducted.

Break-Even Point

The juncture where a company's overall expenses match its total income, leading to neither a profit nor a loss.