Approximately How Many Years Does It Take to Double a $475

question 57

Multiple Choice

Approximately how many years does it take to double a $475 investment when interest rates are 8% per year?

• A) 18 years
• B) 12 years
• C) 9 years
• D) 4.75 years

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Definitions:

Remaining Cash

The amount of cash a business has available after all expenses and liabilities have been paid.

Partnership Agreement

A legal document that outlines the rights, responsibilities, and profit and loss distribution among partners in a business venture.

Contract Between Partners

A legal agreement that outlines the rights, responsibilities, and share of profits/losses among partners in a partnership.

Distribution Of Remaining Cash

The allocation of left-over cash to shareholders or for other corporate purposes after settling all obligations and investments.