Approximately How Many Years Does It Take to Double a $500

question 25

Multiple Choice

Approximately how many years does it take to double a $500 investment when interest rates are 4 percent per year?

• A) 0.06 year
• B) 6 years
• C) 6.94 years
• D) 18 years

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Definitions:

Median

When values in a dataset are sorted from least to greatest or the opposite, the median is the value that sits in the center.

Set of Data

A collection of related information or variables, typically numeric, organized for analysis.

Mean

A statistical measure that represents the average value of a set of numbers.

Set of Data

A collection of data points or values that have been gathered to provide information for analysis.