If $9,000 Is Invested at an Annual Rate of 11

question 83

Multiple Choice

If $9,000 is invested at an annual rate of 11% per year compounded monthly, the future value S at any time t (in months) is given by . How long does it take for the investment to double? Round your answer to one decimal place. ​

• A)91.2 months
• B)14.8 months
• C)76.0 months
• D)92.2 months
• E)68.7 months

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Definitions:

Individual Differences

Variations among individuals in qualities or attributes, including cognitive, emotional, and physical characteristics.

Imitation

The action of using someone or something as a model and attempting to replicate their behavior or actions.

Accommodation

In psychology, a cognitive process that adjusts mental schemes to incorporate new information; in eyesight, the process by which the eye's lens changes shape to focus on objects at various distances.

Mirror Neurons

A type of brain cell that fires both when an individual acts and when the individual observes the same action performed by another, playing a role in learning and empathy.