Solve the Problem

question 351

Multiple Choice

Solve the problem. Round your answer to three decimals.
-How long will it take for an investment to double in value if it earns 9.25% compounded continuously?

• A) 7.493 years
• B) 3.747 years
• C) 7.781 years
• D) 11.877 years

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Definitions:

Balance Sheet

A ledger entry that captures the financial position of a business, enumerating assets, liabilities, and the stake of shareholders at an exact moment.

Original Investments

The initial amount of money or value of assets put into a business or project by its founders or investors.

Net Income

The total earnings of a company after subtracting all expenses, including taxes and operating costs, from its total revenues.

Salary Allowances

Benefits or extra compensation provided to employees on top of their regular salary, often for specific purposes such as transportation, housing, or meals.