Solve the Problem

question 371

Multiple Choice

Solve the problem. Round your answer to three decimals.
-What annual rate of interest is required to double an investment in 10 years?

• A) 6.931%
• B) 11.612%
• C) 7.177%
• D) 3.589%

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Definitions:

Logically Consistent Theory

A theory in which the statements and principles are coherently aligned and do not lead to any contradictions or inconsistencies.

Individual Actors

Entities or persons that act independently within an economic system, making decisions based on personal interests or goals.

Politicians

Individuals engaged in directing or influencing government policy and decision-making.

Short-Run Benefits

Advantages or gains received in the immediate future, often without consideration for long-term implications.