A Firm's Net Income Last Year Was $2

question 85

Multiple Choice

A firm's net income last year was $2.65 million. Its net income grew 8 percent during the last "5" years. If that growth rate continues, how long will it take for the firm's net income to double?

• A) 6.6 years
• B) 7.1 years
• C) 8.2 years
• D) 9 years