How Long Will It Take for $600 to Double If

question 134

Multiple Choice

How long will it take for $600 to double if it is invested at 9% annual interest compounded 12 times a year?

• A) It will take approximately 11.1 years.
• B) It will take approximately 8.8 years.
• C) It will take approximately 7.7 years.
• D) It will take approximately 7.4 years.
• E) It will take approximately 8.4 years.

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