Approximately How Long Will It Take for an Investment to Double

question 26

Multiple Choice

Approximately how long will it take for an investment to double in value if the interest rate is 10.5%?

• A)6.86 years.
• B)5.86 years
• C)5.36 years
• D)7.36 years.
• E)2.36 years.

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Definitions:

Accounts Receivable

Funds that customers owe to a business for products or services provided but for which payment has not yet been received.

Unearned Sales Revenues

A liability on a company's balance sheet that represents revenue received before the company has delivered goods or services.

Sales Revenues

Sales revenues refer to the income generated from the sale of goods or services by a company before any expenses are subtracted, indicating the primary source of business income.

Operating Expenses

Costs related to the day-to-day functions of a business, excluding cost of goods sold, but including items like rent, salaries, utilities, and depreciation.