The Solution to This Problem Requires Time Value of Money

question 56

Multiple Choice

The solution to this problem requires time value of money calculations.Reference to Tables 9-1 through 9-4 in the text is necessary to complete the calculations.
- Approximately how many years will it take for a sum invested at 8% with annual compounding to quadruple?

• A)9 years
• B)17 years
• C)18 years
• D)81 years

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