How Long, to the Nearest Year, Will It Take an Investment

question 74

Short Answer

How long, to the nearest year, will it take an investment in Canada to double its value if the interest is compounded every six months Please round the answer to the nearest year. $$\begin{array} { | l | l | l | l | l | l | } \hline \text { Country } & \text { U.S. } & \text { Japan } & \text { Canada } & \text { Korea } & \text { Australia } \\\hline \text { Yield } & 5.3 \% & 1.5 \% & 5.2 \% & 5.4 \% & 6.0 \% \\\hline\end{array}$$
t = __________ year(s)

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Definitions:

Rehearsal

A cognitive process involving the conscious repetition of information to be remembered, facilitating its transfer to long-term memory.

Speed-reading

A collection of reading methods that increase the speed and efficiency of reading without greatly reducing comprehension or retention.

Imagination Inflation

The phenomenon where vividly imagining an event can increase confidence that it actually occurred.

Source Amnesia

A memory disorder where an individual is unable to remember the source of a specific memory while retaining the factual content.