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How many years will it take a money to double itself if invested at 5% compounded annually? Select one: a. 12.2 years b. 13.2 years c. 14.2 years d. 15.2 years

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

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Q 21

How many years will it take a money to double itself if invested at 5% compounded annually?
Select one:
а. 12.2 years
b. 13.2 years
c. 14.2 years
d. 15.2 years

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