You invest $2,000 in a mutual fund paying 9% interest. It takes about 7 years for your initial investment of $2,000 to double to $4,000. How long would it take your $4,000 to then double to $8,000? Choose the best answer. Year Beginning Interest End 180.00 $ 2,180.00 196.20 $ 2,376.20 213.86 $ 2,590.06 2,000.00 $ 1. 2,180.00 $ APR 9% 2. 2,376.20 $ 3 2,590.06 $ 233.11 $ 2,823.16 4 2,823.16 $ 254.08 $ 3,077.25 3,077.25 $ 276.95 $ 3,354.20 3,354.20 $ 301.88 $ 3,656.08 3,656.08 $ 329.05 $ 3,985.13 3,985.13 $ 358.66 $ 4,343.79 4,343.79 $ 390.94 $ 4,734.73 About 14 years About 7 years About 21 years About 10 years
You invest $2,000 in a mutual fund paying 9% interest. It takes about 7 years for your initial investment of $2,000 to double to $4,000. How long would it take your $4,000 to then double to $8,000? Choose the best answer. Year Beginning Interest End 180.00 $ 2,180.00 196.20 $ 2,376.20 213.86 $ 2,590.06 2,000.00 $ 1. 2,180.00 $ APR 9% 2. 2,376.20 $ 3 2,590.06 $ 233.11 $ 2,823.16 4 2,823.16 $ 254.08 $ 3,077.25 3,077.25 $ 276.95 $ 3,354.20 3,354.20 $ 301.88 $ 3,656.08 3,656.08 $ 329.05 $ 3,985.13 3,985.13 $ 358.66 $ 4,343.79 4,343.79 $ 390.94 $ 4,734.73 About 14 years About 7 years About 21 years About 10 years
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section: Chapter Questions
Problem 4CR
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 1 images
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning