Solve the Problem. -How Long Will It Take Money to Double If It

question 7

Multiple Choice

Solve the problem.
-How long will it take money to double if it is invested at 5.25%,compounded continuously? Round your answer to the nearest tenth.

• A)0.13 yr
• B)26.4 yr
• C)13.2 yr
• D)14 yr

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Definitions:

Short Run

A period in economics where at least one factor of production is fixed, limiting the adjustments a firm or industry can make.

Inputs

Resources such as labor, materials, and capital that are used in the production process to create goods and services.

Output

The total amount of goods or services produced by an individual, firm, or country over a specific period.

Marginal Product

The additional output that is produced by using one more unit of a particular input, while keeping other inputs constant.