At 14 Percent Interest, How Long Does It Take to Quadruple

question 61

Multiple Choice

At 14 percent interest, how long does it take to quadruple your money?

• A) 10.42 years
• B) 10.58 years
• C) 11.03 years
• D) 11.21 years
• E) 11.36 years

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Definitions:

Water Table

The surface between the unsaturated zone and the saturated zone, as in the top of groundwater in an unconfined aquifer.

Stalactites

Icicle-shaped formations that hang from the ceilings of caves, formed by the deposit of minerals from dripping water.

Calcite

A common and widely distributed mineral consisting of calcium carbonate (CaCO3), important in the formation of limestone and marble.

Stalactite

A conical or cylindrical cave formation that hangs from the ceiling of a cave and is composed mostly of calcium carbonate.