Question: How long will you need to wait until the value of a $1,000 investment doubles, if it is earning 12.5% interest per year? A. No

How long will you need to wait until the value of a $1,000 investment doubles, if it is earning 12.5% interest per year?

A. No solution. Error.

B. 5.88 years

C. 7.20 years

D. 6.13 years

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!