You Deposit $20,000 in an Account That Doubles in 7

question 85

Multiple Choice

You deposit $20,000 in an account that doubles in 7 years. How many years will it take the account to double again if it earns 14% per year?

• A) 4.92 years
• B) 5.29 years
• C) 6.62 years
• D) 8.22 years

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Definitions:

Core

The innermost part of the Earth, composed primarily of iron and nickel, divided into a solid inner core and a liquid outer core.

Mantle

The thick layer of the Earth located between the crust and the core, composed of silicate rocks rich in magnesium and iron.

Central Zone

A term that can refer to the central area of a geological feature, a city, or a defined area, known for its significance or distinguishing characteristics.

Regional Elevations

Variations in height or altitude of an area's surface within a specific region, reflecting its topography.