At an Annual Interest Rate of 20 Percent,about How Many

question 148

Multiple Choice

At an annual interest rate of 20 percent,about how many years will it take $100 to triple in value?

• A)5
• B)6
• C)8
• D)9

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Definitions:

Sample Proportion

The fraction or percentage of the sample that possesses a certain property or characteristic.

Probability

An indicator of the probability or risk that a certain event will happen, represented by a numerical value ranging from 0 to 1.

Population Mean

The average of a set of numerical values, calculated by summing all the observations and dividing by the total number of observations in the population.

Finite Population

A population set that contains a countable number of elements or observations.