Answered: How long does it take to double $5000…

How long does it take to double $5000 at a compound rate of 12% per year? O 6.12 years O 6.64 years O 9.01 years O 5.67 years O 7.27 years O 8.04 years

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

How long does it take to double $5000 at a compound
rate of 12% per year?
O 6.12 years
O 6.64 years
9.01 years
O 5.67 years
O 7.27 years
O 8.04 years

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