Question: Approximately how many years will it take to double an investment at a 3% annual effective rate? O 24 years 0 20 years O 16

Approximately how many years will it take to double an investment at a 3% annual effective rate? O 24 years 0 20 years

Approximately how many years will it take to double an investment at a 3% annual effective rate? O 24 years 0 20 years O 16 years O 12 years A graduating high school student decides to take three years off and work to save money for college. The student plans to invest all money earned in a savings account earning 2% (APR) interest, compounded quarterly. The student needs to have $ 56,000 by the time school starts in 36 months. How much money will the student have to save each month? O $ 1,515 0 $ 2,035 0 $ 4,540 O $ 6,100

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