An Initial Investment of $6000 Grows at an Annual Interest

question 143

Multiple Choice

An initial investment of $6000 grows at an annual interest rate of 7% compounded continuously. How long will it take to double the investment?

• A)9.90 years
• B)1 year
• C)10.29 years
• D)10.90 years
• E)9.29 years

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Definitions:

Infancy

The period in human development from birth to about 18 months when a child is learning basic motor skills, developing cognitively, and beginning to engage socially.

Synchrony

The coordinated, simultaneous action or occurrence of events or processes, often seen in natural and human-made systems.

Vocal Expressions

Sounds and tones used by an individual to convey emotions, thoughts, or information.

Facial Expressions

The use of the muscles of the face to convey emotions, thoughts, or attitudes.