How Long Must One Wait (To the Nearest Year) for an Initial

question 20

Multiple Choice

How long must one wait (to the nearest year) for an initial investment of $1,000 to triple in value if the investment earns 8% compounded annually?

• A) 9.81 years
• B) 14.27 years
• C) 22.01 years
• D)25.00 years

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Definitions:

Mutual Agreement

A mutual agreement is an understanding or contract between two or more parties, where all have a concurrence of will on the terms and conditions.

Consent Restraint

Limitations or restrictions placed on actions or decisions based on the consent of the parties involved, often relating to contracts or agreements.

Selling Shareholder

An existing stockholder who offers their shares for sale in the context of a securities offering.

Obtain Consent

The act of receiving permission or approval from someone to proceed with a specific action or process.