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

---

Definitions:

Mexico

A country located in the southern portion of North America, known for its rich cultural heritage, diverse landscapes, and expanding economy.

Part-Time Workers

Individuals employed in jobs that have shorter working hours than full-time positions, often offering flexibility.

Temporary Workers

Individuals employed on a non-permanent basis, often for specific short-term projects or seasonal work, lacking the same rights and benefits as full-time employees.

Health Care Costs

The expenses associated with medical services, treatments, and medication.