If an investment advisor promises to double your money in 6 years, she is promising an annual rate of approximately ..... %. If, however, you earn an actual return of 7.75%, it would take approximately ....... years to double your money.
If an investment advisor promises to double your money in 6 years, she is promising an annual rate of approximately ..... %. If, however, you earn an actual return of 7.75%, it would take approximately ....... years to double your money.
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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Question
If an investment advisor promises to double your money in 6 years, she is promising an annual rate of approximately ..... %. If, however, you earn an actual return of 7.75%, it would take approximately ....... years to double your money.
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8.3; 10.8
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12.0; 15.5
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12.0; 9.3
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9.3; 12.0
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