How Long Will It Take an Investment to Double in Value

question 61

Multiple Choice

How long will it take an investment to double in value if it earns 6% compounded quarterly? Include accrued interest and round the answer to the nearest month

• A) 11 years 11 months
• B) 11 years 9 months
• C) 11 years 8 months
• D) 3 years 11 months
• E) 3 years 10 months

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Definitions:

Duress

The use of threats or force to compel someone to act against their will or judgment, often considered a defense in a legal proceeding.

Insanity

A legal defense claiming that the defendant was unable to understand the nature or wrongfulness of their actions due to mental illness.

Felony

A serious crime, typically involving violence, that is more severe than a misdemeanor and can result in significant prison time.

Imprisonment

The act of confining a person or restricting their freedom under legal authority, typically as punishment for committing a crime.