Solve the Problem. -How Long Will It Take Money to Double If It

question 25

Multiple Choice

Solve the problem.
-How long will it take money to double if it is invested at 5.25%, compounded continuously? Round your answer to the nearest tenth.

• A) 0.13 yr
• B) 14 yr
• C) 13.2 yr
• D) 26.4 yr

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Definitions:

Movement

The change in position or location, often used in economics to describe changes on graphs such as shifts in demand or supply curves.

Demand Curve

A chart that illustrates the connection between a product's price and the amount consumers are willing to buy, usually showing a decline as prices increase.

Running Shoes

Footwear designed specifically for running, featuring cushioning and support to protect the feet and enhance performance.

Enthusiasm

A feeling of energetic interest in a particular subject or activity and an eagerness to be involved in it.