Question: Approximately how long must one wait (to the nearest year) for an initial investment of $1,000 to triple in value (i.e., increase to $3000) if

Approximately how long must one wait (to the nearest year) for an initial investment of $1,000 to triple in value (i.e., increase to $3000) if the investment earns 8% compounded annually?

		a. 9 years
		b. 14 years
		c. 22 years
		d. 25 years
		e. None of the above

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