An Initial Investment of $9000 Grows at an Annual Interest

question 32

Multiple Choice

An initial investment of $9000 grows at an annual interest rate of 5% compounded continuously. How long will it take to double the investment?

• A) 1 year
• B) 14.40 years
• C) 13.86 years
• D) 14.86 years
• E) 13.40 years

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Definitions:

Reverse Direction

Moving in the opposite direction to the usual or expected way.

Direction of Rotation

This refers to the clockwise or counterclockwise rotation of a motor or mechanical system, which can typically be reversed in electric motors by altering the wiring configuration.

Machine Part

A machine part is a component or piece that has been specifically designed and manufactured to perform a particular function within a complex assembly in machinery.