A Recent Advertisement in the Financial Section of a Magazine

question 109

Multiple Choice

A recent advertisement in the financial section of a magazine carried the following claim: "Invest your money with us at 14 percent,compounded annually,and we guarantee to double your money sooner than you imagine." Ignoring taxes,how long would it take to double your money at a simple rate of 14 percent,compounded annually?

• A) Approximately 3.5 years
• B) Approximately 5 years
• C) Exactly 7 years
• D) Approximately 10 years
• E) Exactly 14 years

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Definitions:

West-Central Africa

A geographic region in Africa that includes countries like Angola, Congo, and Cameroon, known for its rich cultural heritage and diverse ethnic groups.

Neck Ridges

Anatomical features found on certain animals or artistic representations, consisting of raised areas along the neck, often for protection, display, or thermal regulation.

Mende Female Masks

Traditional ceremonial masks used by the Mende people of Sierra Leone, representing ideals of female beauty and moral virtues.

Symbolism

An artistic and literary movement that originated in the late 19th century, using symbolic imagery and indirect suggestion to express mystical ideas, emotions, and states of mind.