An Investment of $28,000 Is Made in a Trust Fund $0.69$

question 34

Multiple Choice

An investment of $28,000 is made in a trust fund at an annual interest rate of 6.75%, compounded continuously. How long will it take for the investment to double? Give your answer to two decimal places.

• A) \(0.69\) year
• B) \(14.81\) years
• C) \(10.27\) years
• D) \(4.46\) years
• E) \(4.68\) years

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