If an Investment Pays 7% Interest and You Invest $1,000

question 64

Multiple Choice

If an investment pays 7% interest and you invest $1,000, about how long will it take you to double your money?

• A) 6 years
• B) 7 years
• C) 8 years
• D) 9 years

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Definitions:

Descriptive Analytics

The set of analytical techniques that describe what has happened in the past.

Analytical Technique

Analytical Technique refers to a systematic approach or method used to break down complex material or data into smaller, more manageable parts for analysis.

Category

A classification or grouping of items that share common characteristics or attributes.

Analytics

The scientific process of transforming data into insight for making better decisions.