How Long Will It Take for $800 to Double If

question 123

Multiple Choice

How long will it take for $800 to double if it is invested at 5% annual interest, compounded continuously?

• A) It will take approximately 14.18 years.
• B) It will take approximately 13.86 years.
• C) It will take approximately 14.62 years.
• D) It will take approximately 15.00 years.
• E) It will take approximately 6.02 years.

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Definitions:

Declarative Memories

Facts and incidents that can be intentionally remembered and brought to mind.

Eyewitness Testimony

Evidence provided in court by someone who witnessed a crime or significant event, which can heavily influence jury decisions despite potential issues with reliability.

Short-Term Memory

Short-term memory is a cognitive system that temporarily holds a limited amount of information in an accessible state for cognitive tasks.

Encoding Specificity

The principle that recall is more effective when the context at the time of encoding matches the context at the time of retrieval.