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:

Piaget

A Swiss developmental psychologist and philosopher known for his pioneering work in child development and his theory of cognitive development in children.

Symbolic Thinking

The ability to use symbols, signs, or objects to represent ideas or concepts, significant in language development and creative thinking.

Cognitive Developmental Milestones

Refer to the key stages in early childhood and adolescence where individuals achieve new abilities in language, thought, problem-solving, and personal interaction.

Piaget

Piaget, Jean Piaget, was a Swiss psychologist best known for his pioneering work in child development, specifically his theory of cognitive development that describes how children's intellect grows and evolves in stages.