How many years are required for an investment to double in value at 10% interest? A n= 8 years, because (F/P,10%,8) > 2 and (F/P,10%,7) < 2 Bn= 2 years, because (F/A,10%,2) > 2 and (F/A,10%,1) « 2 c) n= 3 years, because (P/G,10%,3) > 2 and (P/G,10%,2) < 2 Dn= 10 years, because interest is 10% per year

How many years are required for an investment to double in value at 10% interest? A n= 8 years, because (F/P,10%,8) > 2 and (F/P,10%,7) < 2 Bn= 2 years, because (F/A,10%,2) > 2 and (F/A,10%,1) « 2 c) n= 3 years, because (P/G,10%,3) > 2 and (P/G,10%,2) < 2 Dn= 10 years, because interest is 10% per year

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter1: Understanding Personal Finance

Section1.4: Perform Time Value Of Money Calculations

Problem 3CC

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