How long will it take to triple our investment if we can earn an 8.5% annual return?

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
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How long will it take to triple our investment if we can earn an 8.5% annual return?

   

12.8 years

   

13.5 years

   

10.6 years

   

11.9 years

Expert Solution
Step 1

Annual Rate:

It is the rate for the complete year charged on a loan amount or utilized for computing the present or future value of any amount.

 

Information Provided:

Annual rate = 8.5%

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