How long will it take $700 to double if it earns the following rates? Compounding occurs once a year. Round your answers to two decimal places. a. 8%. year(s) b. 10%. year(s) с. 16%. year(s) d. 100%. year(s)
How long will it take $700 to double if it earns the following rates? Compounding occurs once a year. Round your answers to two decimal places. a. 8%. year(s) b. 10%. year(s) с. 16%. year(s) d. 100%. year(s)
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 3CE
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![How long will it take $700 to double if it earns the following rates? Compounding occurs once a year. Round your answers to two decimal places.
a. 8%.
year(s)
b. 10%.
year(s)
C. 16%.
year(s)
d. 100%.
year(s)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F17f671fc-4863-415d-b756-7fd78438c6a7%2Fb11b2a48-a792-40b5-8866-08ff53a25812%2Fxz00rz5_processed.jpeg&w=3840&q=75)
Transcribed Image Text:How long will it take $700 to double if it earns the following rates? Compounding occurs once a year. Round your answers to two decimal places.
a. 8%.
year(s)
b. 10%.
year(s)
C. 16%.
year(s)
d. 100%.
year(s)
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