How Long Will It Take an Investment of $4,000 to Double

question 145

Short Answer

How long will it take an investment of $4,000 to double if the investment earns interest at the rate of 7% compounded continuously? Round your answer to the nearest hundredth. __________ year(s)

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Definitions:

Capital Intensive

An industry or business that requires large amounts of money and resources (such as machinery or equipment) to produce goods or services.

Alternative Technologies

Refers to varying methods, tools, or systems that can be used as substitutes for each other in achieving a similar outcome, often considered in the context of environmental sustainability or efficiency improvements.

Hourly Wage Rate

The compensation employees receive for every hour they work.

Production Technology

The methods, equipment, and processes used to produce goods and services, impacting efficiency and output levels.