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

question 120

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 years
• B)6 years
• C)6.94 years
• D)18 years

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Definitions:

Unlimited Liability

Unlimited liability means that the owners of a business are personally responsible for the entire amount of debt and obligations of the business, potentially risking their personal assets.