Solve the Problem. -Find How Long It Will Take for $8600 Invested at $8600

question 280

Multiple Choice

Solve the problem.
-Find how long it will take for $8600 invested at 9.325% per year compounded daily to triple in value. Find the answer to the nearest year.

• A) 1,569,773 years
• B) 15,895 years
• C) 0 years
• D) 12 years

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Definitions:

Competitive Factors

Elements that determine a company's competitive advantage or disadvantage in the market, such as product quality, price, and customer service.

Market Price

The current price at which an asset or service can be bought or sold in a marketplace, determined by supply and demand dynamics.

Subjective Feel

An individual's personal and emotional response or perception towards something.