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:

Theory Of Mind

The ability to attribute mental states—beliefs, intents, desires, emotions, knowledge, etc.—to oneself and to others and to understand that others have beliefs, desires, and intentions that are different from one's own.

Infantile Amnesia

The incapacity of adults to recall episodic memories, which are memories related to specific events or situations, from their early childhood years.

Egocentrism

The inability to differentiate between one's own perspective and someone else's perspective, often seen in early childhood development.

Conservation

In environmental science, it is the preservation and careful management of the environment and natural resources.