An Initial Investment of $6000 Grows at an Annual Interest

question 62

Multiple Choice

An initial investment of $6000 grows at an annual interest rate of 3% compounded continuously.How long will it take to double the investment?

• A) 23.10 years
• B) 24.10 years
• C) 24.00 years
• D) 23.00 years
• E) 1 year

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Definitions:

Personal Responsibility

The belief that individuals are accountable for their actions and consequences.

Irrational Fear

A fear that is disproportionate to the threat or danger it is associated with, often resulting from psychological factors.

Paying Attention

The act of concentrating or focusing one's mental energies on a specific object, task, or subject.

Present Moment

The current point in time, emphasizing focus and mindfulness on the immediate situation or experience without distraction.