Approximately What Rate Is Needed to Double an Investment Over

question 114

Multiple Choice

Approximately what rate is needed to double an investment over five years?

• A) 8%
• B) 12.2%
• C) 14.4%
• D) 15.8%

---

Definitions:

Cash Account

A financial account that records cash transactions, including receipts and payments, showing the cash balance available at any given time.

Adjusting Entries

Accounting entries made at the end of an accounting period to allocate revenue and expenses to the period in which they actually occurred.

Accounting Errors

Mistakes made in recording financial transactions or preparing financial statements.

Insurance Expense

It refers to the cost attributed to purchasing insurance policies for a business, which is typically considered an operational expense.