If $4,500 Is Invested at an Annual Rate of 8

question 5

Multiple Choice

If $4,500 is invested at an annual rate of 8% compounded continuously, the future value S at any time t (in years) is given by . How long does it take for the investment to double? Round your answer to one decimal place. ​

• A) 8.7 years
• B) 7.4 years
• C) 8.6 years
• D) 9.0 years
• E) 11.7 years

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Definitions:

Phenomenology

The study of structures of consciousness as experienced from the first-person point of view.

Observable Behaviour

Actions or reactions that can be seen or measured, often used in behavioural research or analysis.

Psychoanalytic Theory

A framework for understanding human psychology that emphasizes the role of unconscious processes and childhood experiences in shaping personality and behavior.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing behaviors, thoughts, and emotions.