An Initial Investment of $7000 Grows at an Annual Interest

question 48

Multiple Choice

An initial investment of $7000 grows at an annual interest rate of 3% compounded continuously. How long will it take to double the investment?

• A)23.10 years
• B)24.10 years
• C)24.00 years
• D)23.00 years
• E)1 year

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Definitions:

Kenneth and Mamie Clark

Psychologists known for their 1940s experiments using dolls to study children's attitudes about race, influencing the Brown v. Board of Education Supreme Court case.

Clinical Psychology

A field within psychology dedicated to identifying and addressing mental, emotional, and behavioral issues.

Psychological Disorders

Mental disorders characterized by patterns of behavior or thoughts that are significantly distressful, harmful, or deviant from societal norms.

Diagnosis

The process of identifying a disease, condition, or illness based on symptoms and examination.