How Long Will It Take $6500 to Triple If It

question 40

Multiple Choice

How long will it take $6500 to triple if it is invested at an annual interest rate of 8.5% compounded continuously? Round to the nearest year.

• A)24 years
• B)8 years
• C)65 years
• D)16 years
• E)13 years

---

Definitions:

Predetermined Overhead

An estimated overhead cost determined before the period begins for the purpose of allocating overhead costs to products or services in a more consistent manner.

Direct Materials

Raw materials that can be directly traced to and are integral to the finished product.

Raw Materials

Basic substances in their natural, modified, or semi-processed states used as inputs for production.

Predetermined Overhead

An estimated rate used to assign overhead costs to products or services based on a planned amount of overhead and a planned allocation base.