How Long Will It Take an Investment of $4,000 to Double

question 9

Short Answer

How long will it take an investment of $4,000 to double if the investment earns interest at the rate of 7% compounded continuously? Round your answer to the nearest hundredth. __________ year(s)

---

Definitions:

Day Of Deposit

The day on which funds are deposited into a bank account, which starts the process of the funds being cleared and made available for use.

Multiple Forgeries

The act of falsifying or making unauthorized copies of documents, signatures, or artworks on more than one occasion.

Altered Checks

Checks that have been tampered with or modified unauthorizedly, affecting the intended payment amount or recipient.

Statement Of Account

A record of the transactions and balances between two parties, typically used in billing and account management.