If $15,000 Is Invested at 10% Per Year,in Approximately How

question 24

Multiple Choice

If $15,000 is invested at 10% per year,in approximately how many years will the investment double?

• A)7.3 years
• B)8.4 years
• C)10.6 years
• D)14.8 years

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Definitions:

Accrued Interest

Interest that has been incurred but not yet paid.

Interest Dates

The specific dates on which interest payments are made or interest rates are applied to financial instruments or loans.

Investment In Bonds

This is the act of purchasing bonds as a means of investing money, typically for earning interest income and obtaining potential price appreciation.

Interest Revenue

Income earned from investments, loans, or other interest-bearing financial assets.