Using the law of 69.3 calculate to the nearest 0.1 yr the time it will take your original investment to quadruple (4x) if the compound interest rate is 8%. [Hint: calculate the doubling time first, then the quadrupling time.] 8.7 yr 69.3 vr
Using the law of 69.3 calculate to the nearest 0.1 yr the time it will take your original investment to quadruple (4x) if the compound interest rate is 8%. [Hint: calculate the doubling time first, then the quadrupling time.] 8.7 yr 69.3 vr
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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![Using the law of 69.3 calculate to the nearest O.1 yr the time it will take your original investment to
quadruple (4x) if the compound interest rate is 8%. [Hint: calculate the doubling time first, then the
quadrupling time.]
8.7 yr
69.3 yr
26.0 yr
17.3 yr](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd37da8a3-bf39-4a3e-963c-0eea1271e91d%2F915322e8-bc4b-4629-8556-fd373f600342%2F53anprz_processed.png&w=3840&q=75)
Transcribed Image Text:Using the law of 69.3 calculate to the nearest O.1 yr the time it will take your original investment to
quadruple (4x) if the compound interest rate is 8%. [Hint: calculate the doubling time first, then the
quadrupling time.]
8.7 yr
69.3 yr
26.0 yr
17.3 yr
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