You Want to Invest an Amount of Money Today and Receive

question 44

Multiple Choice

You want to invest an amount of money today and receive back twice that amount in the future. You expect to earn 8 percent interest. Approximately how long must you wait for your investment to double in value?

• A) 6 years
• B) 7 years
• C) 8 years
• D) 9 years
• E) 10 years

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Definitions:

Pupil

The pupil is the black circular opening in the center of the iris of the eye, which regulates the amount of light that enters the eye.

Iris

The colored part of the eye surrounding the pupil, responsible for controlling the diameter and size of the pupil and thus the amount of light reaching the retina.

White

A color perceived when light contains all the wavelengths of the visible spectrum at equal intensity.

Colored Part

Referring to the iris, the colored portion of the eye surrounding the pupil that controls the amount of light entering the eye.