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

question 24

Multiple Choice

Approximately 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 years
• B) 14 years
• C) 22 years
• D) 25 years

---

Definitions:

Systematic Collection

The organized gathering of data according to a defined process that follows a specific pattern or protocol.

Communicating Findings

The process of sharing the results of an analysis or research study with stakeholders or the scientific community.

Research Hypothesis

A statement in research that predicts a significant relationship between variables, suggesting that one variable has an effect on another.

Sample

A subset of a population used in statistical analysis, which is representative of the whole population to infer conclusions about the population.