How Long Will It Take $500 to Triple If It

question 74

Multiple Choice

How long will it take $500 to triple if it is invested at 9% annual interest, compounded continuously?

• A) It will take approximately 11.1 years.
• B) It will take approximately 12.9 years.
• C) It will take approximately 12.2 years.
• D) It will take approximately 5.3 years.
• E) It will take approximately 11.9 years.

Grasp various organizational strategies in business writing, focusing on topical organization.

Develop an understanding of the differentiation between solicited and unsolicited proposals.

Identify and differentiate between various types of reports and their purposes within business contexts.

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Definitions:

Cost of Selling Goods

The total expense directly incurred from the production or purchase of items sold by a business.

Cost of Goods Sold

An expense recorded on the income statement that reflects the total cost of producing or purchasing the goods that a company has sold during a specific period.

Cost of Goods Sold

Represents the total cost of all goods that were sold over a specific period, including the costs associated with production or purchase.

Gross Profit

The difference between revenue and the cost of goods sold (COGS), indicating the efficiency of a company in using its labor and supplies.