How Long Must One Wait (To the Nearest Year) for an Initial

question 20

Multiple Choice

How long must one wait (to the nearest year) for an initial investment of $1,000 to triple in value if the investment earns 8% compounded annually?

• A) 9.81 years
• B) 14.27 years
• C) 22.01 years
• D)25.00 years

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Definitions:

Narcotic

A class of drugs that reduce pain, alter mood and behavior, and usually have the potential for dependence and abuse.

Prescription

A written order from a qualified healthcare professional allowing a patient to be issued with medicine or treatment.

Joint Commission

An independent, not-for-profit organization that accredits and certifies healthcare organizations and programs in the United States to ensure compliance with specific standards.

Prescription

An order written by a medical practitioner authorizing a patient to be provided a medicine or treatment.