Solve the Problem. -Suppose That $8000 Is Invested at an Interest Rate of Interest

question 118

Multiple Choice

Solve the problem.
-Suppose that $8000 is invested at an interest rate of 5.5% per year, compounded continuously. How long would it take to double the investment?

• A) 12.6 yr
• B) 11.6 yr
• C) 2 yr
• D) 13.6 yr

---

Definitions:

Members' Desire

The wants or aspirations of individuals within a group or organization.

Compliance Conformity

The process of aligning one's actions and behavior with established guidelines, rules, or standards.

Involuntary Conformity

The act of altering one's behavior or beliefs due to real or imagined pressure from others, without conscious desire to make such changes.

Self-Managed Teams

Groups of employees tasked with managing their own operations and responsibilities without traditional direct supervision.