The Number of Quarters Needed to Double an Investment When $n = \log 1.025^2$

question 278

Multiple Choice

The number of quarters needed to double an investment when a lump sum is invested at 10%, compounded quarterly, is given b $n = \log 1.025^2$ 2. Use the change of base formula to find n, rounded to the nearest tenth.

• A) 33.1 quarters
• B) 28.1 quarters
• C) 31.1 quarters
• D) 24.1 quarters

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