For an Investment to Double in 5 Years, the Interest

question 181

True/False

For an investment to double in 5 years, the interest rate has to be 14.11% compounded quarterly.

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Definitions:

Record Mortgage

A legal document indicating a mortgage loan has been registered with the local government land office, making it part of the public record.

Mortgage Loan

A loan secured by real property through the use of a mortgage note, used by purchasers of real property to raise funds to buy real estate.

Interest

Interest refers to the cost of borrowing money, usually expressed as a percentage of the principal loan amount, or the income earned from investment.

Mortgage

A type of loan specifically used to purchase real estate, in which the property itself is used as collateral against the debt.