Solve the Problem. -How Long Will It Take for an Investment to Double

question 95

Multiple Choice

Solve the problem.
-How long will it take for an investment to double in value if it earns 4.25% compounded continuously? Round your answer to three decimal places.

• A)25.85 yr
• B)16.309 yr
• C)8.155 yr
• D)17.715 yr

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Definitions:

Trade Deficits

A situation in which a country's imports exceed its exports during a given time period.

Saving Rate

The proportion of disposable income that individuals or households save rather than spend on consumption.

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The economic system of the United States, characterized by a mixed economy that includes private enterprise alongside limited government involvement.