Approximately How Many Years Does It Take to Double a $600

question 42

Multiple Choice

Approximately how many years does it take to double a $600 investment when interest rates are 6 percent per year?

• A)0.08 years
• B)8 years
• C)8.33 years
• D)12 years

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Definitions:

Prediction Error

The difference between observed values and the values predicted by a model, used as a metric to evaluate the accuracy of predictions.

Absolute Value

The non-negative value of a number disregarding its sign; representing its distance from zero on the number line.

Criterion Variable

The dependent variable that is predicted or explained by independent variables in a study.

Dependent Variable

The variable in an experiment that is expected to change as a result of manipulations made to the independent variable.