California Investors recently advertised the following claim: Invest your money with us at 21%, compounded annually, and we guarantee to double your money sooner than you imagine
Ignoring taxes, how long would it take to double your money at a nominal rate of 21%, compounded annually? Round off to the nearest year.
A) Approximately two years
B) Approximately four years
C) Approximately six years
D) Approximately eight years
Answer: B
You might also like to view...
Kevin Couriers Company prepared the following static budget for the year
Static Budget Units/Volume 5,000 Per Unit Sales Revenue $7.00 $35,000 Variable Costs 1.00 5,000 Contribution Margin 30,000 Fixed Costs 3,000 Operating Income/(Loss) $27,000 If a flexible budget is prepared at a volume of 7,800, calculate the amount of operating income. The production level is within the relevant range. A) $43,800 B) $27,000 C) $7,800 D) $3,000
All report headings that are of the same level must be consistent in position, appearance, and grammatical construction
Indicate whether the statement is true or false