How Long Will It Take an Investment of $8,000 to Double

question 220

Short Answer

How long will it take an investment of $8,000 to double if the investment earns interest at the rate of 8% / year compounded monthly? Round your answer to the nearest tenth.
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__________ year(s)

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Definitions:

Adaptation-Level Phenomenon

The psychological principle that states individuals judge new experiences based on their past experiences.

James-Lange Theory

A theory suggesting that emotions are the result of physiological reactions to events.

Catharsis Hypothesis

The theory that expressing or experiencing strong emotions releases them and reduces their impact, leading to relief.

Aggressive Urges

Innate or learned desires to act or react in a hostile, forceful, or violent manner towards oneself or others.