Use the Formula to Find the Doubling Time T

question 25

Multiple Choice

Use the formula to find the doubling time t, in years, for an investment at r% compounded n times per year. Suppose you make an investment of $900 at interest rate 9% compounded quarterly. How long will it take for your investment to double? Round your answer to two decimal places. ​

• A)2.60 years
• B)15.58 years
• C)3.89 years
• D)4.02 years
• E)7.79 years

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Definitions:

Mutable Class

Describes a class in programming whose instances can be modified after they are created.

Public Methods

Functions or procedures available to any object or class that wishes to use them in a class.

Object

A basic unit of Object-Oriented Programming (OOP) that represents real-world entities, encapsulating both data and behaviors.

Assignment Operator

In programming, an operator that assigns a value to a variable.