Suppose the Parents of a Child Born in the Year

question 117

Multiple Choice

Suppose the parents of a child born in the year 2000 had invested $5,000 at a 10% interest rate to be paid out to the child when she turns 21 years old.Approximately how many times will the investment double by the time it is paid out to the child?

• A)2 times
• B)3 times
• C)4 times
• D)8 times

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