How Long Will It Take an Investment of $7,000 to Double

question 255

Multiple Choice

How long will it take an investment of $7,000 to double if the investment earns interest at the rate of 7% compounded continuously? Round your answer to two decimal places.

• A) year(s)
• B) year(s)
• C) year(s)
• D) year(s)
• E) year(s)

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Definitions:

Social Loafing

The tendency of some people to avoid responsibility by ‘free‐riding’ in groups.

Poor Work Ethics

The lack of commitment to professionalism and responsibility in the workplace, often resulting in substandard work performance.

Anti-Synergy

A situation in which the combined effect of a group or system's parts is less beneficial than the sum of their individual effects.

Free Riders

Free riders are individuals or entities that benefit from resources, goods, or services without paying for them or contributing to their provision, often seen in contexts involving public goods or collective efforts.