5) Approximately how long would it take to double an investment earning 4.95% nominal interest compounded annually? 15.9 years 15 years 14.8 years 14.3 years 14 years a. b. с. d. е.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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5) Approximately how long would it take to double an investment earning 4.95% nominal interest
compounded annually?
15.9 years
15 years
14.8 years
14.3 years
14 years
а.
b.
с.
d.
e.
Transcribed Image Text:5) Approximately how long would it take to double an investment earning 4.95% nominal interest compounded annually? 15.9 years 15 years 14.8 years 14.3 years 14 years а. b. с. d. e.
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