Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. at an interest rate of 9 percent, an investment of

At an interest rate of 9 percent, an investment of $1 would double in 8.04 years....

60.2K

Verified Solution

Question

Finance

At an interest rate of 9 percent, an investment of $1 woulddouble in 8.04 years. How long to the nearest year would it take aninvestment of $1 to grow four fold (4 times) if the interest ratewas only 4 percent?

a.

12 years

b.

24 years

c.

36 years

d.

48 years

e.

96 years

Answer & Explanation Solved by verified expert
4.3 Ratings (527 Votes)
    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

At an interest rate of 9 percent, an investment of $1 woulddouble in 8.04 years. How long to the nearest year would it take aninvestment of $1 to grow four fold (4 times) if the interest ratewas only 4 percent?a.12 yearsb.24 yearsc.36 yearsd.48 yearse.96 years

Other questions asked by students

Q

What is Real and What is Reality How do you understand the word real? What is real...

Psychology
Q

1 1 mm 2 0 05 mm 3 0 03 mm 4 0 01 mm...

Physics
Q

TIC LINIIL 2 00 00 Page 1 1 Page 2 2 Page 3 3 Page...

Geometry
Q

If f(x) = 5x + 6x, find each of the following.(a) f(0) (b) f(-5) (c)...

Basic Math
Q

1 Which system of inequalities is graphed below A B D y x 2 y...

Statistics
Q

Find the equation of the tangent line tof(x) = 1 + eX + X2at x...

Calculus
Q

Find (A) the derivative of F(x)S(x) without using the product rule, and (B) F'(x)S'(x). Note...

Calculus
Q

For the matrix A 1 3 1 2 5 3 1 2 5 a 7...

Algebra
Q

Let S p x E P p 1 p 2 a Show that S is...

Algebra
Q

image

image

Accounting
Q

The table shows financial data for Purrfect Pets, Incorporated as of June 30, Year 3....

Accounting
Q

Azure, Inc, had total sales of $ 2000000 for the current fiscal year. The actual...

Accounting