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tetleyelmo tetleyelmo
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7 years ago
A recent advertisement in the financial section of a magazine carried the following claim: "Invest your money with us at 14 percent, 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 14 percent, compounded annually?
A) 3.66 years
B) 5.29 years   
C) 7.00 years   
D) 10.24 years   
E) 14.00 years
Textbook 
Corporate Finance Online

Corporate Finance Online


Edition: 1st
Authors:
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BlimpBlimp
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Posts: 499
7 years ago
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Pol. Sci. Major
Minoring in Business
Columbia University Sophomore

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