Question

Future value You have $600 to invest. If you can earn 14% interest, about how long does it take for your $600 investment to grow to $1,200? Suppose the interest rate is just half that, at 7%. At half the interest rate, does it take exactly twice as long to double your money? Why or why not? How long does it take? If the annual interest rate is 14%, the number of years it takes to double your money is years. (Round to two decimal places.) If the annual interest rate is just half at 7%, the number of years it takes to double your money is years. (Round to two decimal places.) At half the interest rate, does it take exactly twice as long to double your money? (Select the best answer below.) A. No, it takes slightly less than twice as long to double your money because the money accumulated faster over longer time periods. B. Yes, it takes exactly twice as long to double your money regardless of the annual interest rate. C. Yes, it takes exactly twice as long to double your money because the number of time periods is linearly related to the interest rate. D. No, it takes more than twice as long to double your money because the money must be accumulated even longer at half the interest rate.

          Future value You have $600 to invest. If you can earn 14% interest, about how long does it take for your $600 investment to grow to $1,200? Suppose the
interest rate is just half that, at 7%. At half the interest rate, does it take exactly twice as long to double your money? Why or why not? How long does it take?
If the annual interest rate is 14%, the number of years it takes to double your money is years. (Round to two decimal places.)
If the annual interest rate is just half at 7%, the number of years it takes to double your money is years. (Round to two decimal places.)
At half the interest rate, does it take exactly twice as long to double your money? (Select the best answer below.)
A. No, it takes slightly less than twice as long to double your money because the money accumulated faster over longer time periods.
B. Yes, it takes exactly twice as long to double your money regardless of the annual interest rate.
C. Yes, it takes exactly twice as long to double your money because the number of time periods is linearly related to the interest rate.
D. No, it takes more than twice as long to double your money because the money must be accumulated even longer at half the interest rate.

Future value You have 600 to invest. If you can earn 14% interest, about how long does it take for your $600 investment to grow to $1,200? Suppose the
interest rate is just half that, at 7%. At half the interest rate, does it take exactly twice as long to double your money? Why or why not? How long does it take?
If the annual interest rate is 14%, the number of years it takes to double your money is years. (Round to two decimal places.)
If the annual interest rate is just half at 7%, the number of years it takes to double your money is years. (Round to two decimal places.)
At half the interest rate, does it take exactly twice as long to double your money? (Select the best answer below.)
A. No, it takes slightly less than twice as long to double your money because the money accumulated faster over longer time periods.
B. Yes, it takes exactly twice as long to double your money regardless of the annual interest rate.
C. Yes, it takes exactly twice as long to double your money because the number of time periods is linearly related to the interest rate.
D. No, it takes more than twice as long to double your money because the money must be accumulated even longer at half the interest rate.

Added by Charles D.

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