How Long Will It Take an Investment of $5,000 to Double

question 166

Multiple Choice

How long will it take an investment of $5,000 to double if the investment earns interest at the rate of 7% compounded continuously? Round your answer to two decimal places. ​

• A) 9.86 year(s)
• B) 9.90 year(s)
• C) 9.92 year(s)
• D) 9.84 year(s)
• E) 9.88 year(s)

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Definitions:

Preconditions

Necessary conditions that must exist or be met before a particular action can occur.

Integrative Negotiation Process

is a collaborative approach to negotiation in which parties work together to find a mutually beneficial outcome, focusing on interests rather than positions.

Motivation

The reason or reasons one has for acting or behaving in a particular way; the driving force behind actions.

Commitment

A binding pledge or dedication to a cause, activity, or goal, often implying a strong emotional or logical attachment.